Krugman may well be the only guy dumber than Obama
Well he's not dumb Frank but for sure, he has a mental disorder. Theres a big difference. Clearly issue with connecting dots...the red flag is that he is so far out in the fringe in economic thought its hysterical. Economists are wrong frequently but NOBODY is always wrong every time except this guy. Fascinating.
Agreed and yet he is a darling of the Left.
cant see why you all say Krugman is stupid when he said:
"By 2005 or so, it will become clear that the Internet's impact on the economy has been no greater than the fax machine's." Paul Krugman
He like Obama, has said so many dumb things it is incomprehensible. Yet both dorks win Nobel Prizes.
Here are a few more quotes from the little dofus.
Paul Krugman prognosticates.
* Productivity will drop sharply this year. Nineteen ninety-seven, which was a very good year for worker productivity, has led many pundits to conclude that the great technology-led boom has begun. They are wrong. Last year will prove to have been a blip, just like 1992.
* Inflation will be back. Wages are rising at almost 5 percent annually, and the underlying growth of productivity is probably only 1.5 percent or less. Sooner or later, companies will have to start raising prices. In 1999 inflation will probably be more than 3 percent; with only moderate bad luck--say, a drop in the dollar--it could easily top 4 percent. Sell bonds!
* Within two or three years, the current mood of American triumphalism--our belief that we have pulled economically and technologically ahead of the rest of the world--will evaporate. All it will take is a few technological setbacks or a mild recession here while Europe or Japan recovers a bit.
* As the rate of technological change in computing slows, the number of jobs for IT specialists will decelerate, then actually turn down; ten years from now, the phrase information economy will sound silly.
* Sometime in the next 20 years, maybe sooner, there will be another '70s-style raw-material crunch: a disruption of oil supplies, a sharp run-up in agricultural prices, or both. And suddenly people will remember that we are still living in the material world and that natural resources matter.