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Title: [2015-09-08] Is Krugman doing to Bitcoin what he did to oil? ∙ IHB News™ Post by: anirgu on September 09, 2015, 02:48:49 AM https://ihb.io/wp-content/uploads/2015/09/Krugman-on-Peak-Oil-on-Bitcoin-IHB-News%E2%84%A2.gif
Krugman is no genius Paul Krugman, the Nobel Prize winning American Economist was in the limelight once again for his comments regarding Bitcoin. This time he was on a panel at the 92Y’s 7 Days of Genius event. The panel was inappropriately called ‘The Genius of Economics’. Mr. Krugman has hated bitcoin since it’s birth. He has gone on record many times berating the currency and taking a knock at its supporters. He once said... Read More.... (https://ihb.io/2015-09-08/news/is-krugman-doing-to-bitcoin-what-he-did-to-oil-23379) Title: Re: [2015-09-08] Is Krugman doing to Bitcoin what he did to oil? ∙ IHB News™ Post by: TraderTimm on September 09, 2015, 07:37:08 PM Ahhh Krugman. That guy reminds me of a vivisection experiment from the "Island of Dr. Moreau", like if you took a poodle and gave it glasses and a wiry beard, and taught it to bark "more debt is better". His "nobel" prize is from an economics panel, not the scientific one - but lord knows he always flogs that title whenever he can. But that is the sum of the man/beast, where incomplete facts and vague statements (to maintain plausible deniability later, the 2005 fax statement notwithstanding) are the sum of his intellectual knowledge.
Krugman was recently quoted in reference to the Japanese debt and Greek issues, and his statement essentially said "they should've issued more debt for things to work". That kind of advice, along with his poodle-esque visage, should tell you all you need to know - that he's an ethically bankrupt individual that has no grounding in reality. The reason he's surprised by commodities falling in price is he's never understood deflation, especially when the Chinese just reverse-QE'ed the USA by dumping nearly 800 Billion in Treasury debt. It'll all come tumbling down, and I hope Krugman is there, somewhere in a high-end grocery store, mulling over which kind of whole-seed mustard to buy when a hooded non-1-percenter shoves him down and steals his wallet, then ransacks the store for good measure. He is a man in dire need of a clue-by-four upside his smug poodle-grinning face. |
