Noahpinion: KrugTron the Invincible

Noahpinion: KrugTron the Invincible

Paul Krugman is full of crap. He understands some symptoms of problems, and has some solutions. But what he wants is inflation and that has not worked so well lately. This blog post is a very interesting read. But there are chinks in the Krugman armor as well.

Here is where I agree and disagree with Krugman:


1. We do have massively tight money on main street. We have people not buying jewelry, etc.

2. I agree that stimulus should go to main street.

But this is where I disagree, that inflation in wages should be the goal. That seems to me to be a problem.

Remember, in 2002 Krugman called for a housing bubble. So that is a problem. His solutions are very dangerous. 

If you look at these charts, especially the second one, you can see that the price of housing, and therefore the commodities that go to making houses including land and materials, is massively overpriced.

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