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Op-ed views and opinions expressed are solely those of the author.
When is Paul Krugman ever going to stop writing his erroneous drivel, and go do something else, where he’s not incorrect all the time? Given his consistently wrong predictions and opinions, you’d think he would seek another line of work.
Over the years, this columnist for the New York Times has been plenty wrong. Why the Times still carries his columns is one of the cosmic mysteries of the universe. Oh, wait. I forgot for a moment that the Times no longer searches for the truth. They’d rather try to expand their circulation—more revenue, don’t you see – not insist on unbiased, accurate, non-sensational information.
But they have world-class writers, you say? Well, the ability to write isn’t limited to truth-tellers. Karl Marx wrote well, but he wrote lies. And Marx, like Krugman, was wrong about human nature. The most recent vitriol coming from Krugman’s pen is an article a few days ago in which he wrote that America is “in big trouble and in great danger…of being a failed state” because of the Republican Party. He says the Republican Party declared “war on the poor”. Then he wrote that a Republican Senate would be bad for business, as though he knows anything about what business needs. And yet that’s typical stuff for him because he pumps out such “Krugman Krap” regularly.
But there are some realists in the media who are not afraid to expose “Wrong-Way” Krugman. Brian Riedl, a Fellow at the Manhattan Institute, had this to say about Krugman’s columns: “hyper-partisan, personal attacks, vitriol, hyperbole, straw men and accusations of bad faith”. Krugman chooses “demonization over data”. Right on target, Brian.
Krugman hates the free market, and he champions government-run economies. While Krugman is the darling of the charlatan economists, he is also the lord of wrong predications. He can’t seem to get it right most of the time.
In the late 2000s, he was a cheerleader for the socialist states of Western Europe saying, “Europe is an economic success, and that success shows that social democracy works.” How’s that working out for you, Paul, now that several of the European states are in deep do-do? In 2012, he was busted for deceiving his readers about Obamacare when he misrepresented data contained in a report he quoted. Worse, Krugman has earned a reputation as someone who fabricates when accusing someone else of fabricating.
Krugman predicted, on the day of Donald Trump’s landslide victory in 2016, that the U.S. stock market would “never” recover. Since then, the Dow Industrials have set over 100 new record-closing highs, and is up 11,591 points. Nice call, Paul.
The Times, quite embarrassed, was forced to issue a correction in 2010, when it was revealed that Krugman falsified a quote by Newt Gingrich. A pundit suggested that The Times needed a Krugman Truth Squad.
Back in 2004, Krugman also misled Times readers by misrepresenting economic data about Ronald Reagan’s record on taxes and the economy. A year later, he erroneously accused then-Gov. Jeb Bush of sending “law enforcement agents to seize Terri Schiavo.”
In 2003, in a sloth of intellectual laziness, Krugman wrote that California’s taxes are “now probably below average,” when in fact California taxes were ranked eighth-highest among the 50 states.
Krugman predicted in 1998 that the Internet would have little effect on the economy and commerce, stating it would have no greater impact than the fax machine. “The growth of the Internet will slow drastically,” he wrote. Is it possible to be any more wrong than that?
No longer a credible economist since the days before he was a Nobel laureate and had some respect for the truth, Krugman is simply another leftist spouting off about how wealth can be created by government spending. He actually believes that the reckless printing of money won’t cause a fiscal crisis and beget inflation down the road. Krugman’s not the last of the muddle-headed utopian socialists, only one of the more comical. Again this year, I nominate him for the hands-down winner of the World’s Wrongest Economist.
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- Is Paul Krugman the world’s wrongest economist? - November 17, 2020