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Niall Ferguson Goes Searching For Paul Krugman's Embarrassing "Childhood Trauma"

Tyler Durden's picture




 

Update: Krugman's sociopathological (he welcomes the adjective - it "gets the public's attention") response to Bloomberg is below:

"My view is that I am indeed raising public awareness in an effective way -- because the crucial first step is to get the public's attention. We have a situation in which almost the whole political and media establishment is wedded to a pro-austerity narrative; as Ezra Klein pointed out recently, on fiscal issues reporters seem to feel that the usual rules about not taking sides don't apply. So anyone taking on that narrative has to be forceful about it."

"As for Ferguson: what a pathetic response. Notice that he is doing precisely what I never do, and making it about the person as opposed to his ideas. All I have ever done to him is point out that he seems to not know what he is talking about, and that he has been repeatedly wrong. I would never stoop to speculating about his childhood! If he can't handle professional criticism -- which is all that I have ever offered -- he should go find another profession."

"As for Mr. Rehn's complaint, I don't think he gets the meaning of the term 'personal attack.' I have never said anything about him as a person; I don't know anything about him as a person. All I have done is point out that he has been consistently wrong, and that he keeps making the same claims despite years of evidence refuting his propositions. Yes, I write colorfully, to get peoples' attention. But that's not a personal attack."

* * *

Those who have a life outside of finance (or any for that matter), will be excused to know that the man who has done everything in his power to become the biggest laugh out loud joke in the economic establishment (that would be Paul Krugman obviously) at least for those who harbor an original thought and are not indoctrinated by absurd political bias, has been recently engaged in a very public spat with a bunch of other sad self-caricatures, in this case assorted pro-austerity Eurocrats (where the concept of austerity is anything but what it should be, i.e., cutting spending and hiking taxes as seen by the ongoing records in debt in both Spain and Italy) personified mostly by European commissioner Olli Rehn. Krugman has written down his thoughts, for those who can stand his illogical, megalomaniacal, self-aggrandizing Keynesian gibberish, on the matter in "Rehn of Terror", and "Of Cockroaches and Commissioners", while the European take of this sad economist who thinks that "this time is different" and massive debt is the only fix for what is a "massive debt" problem, can be followed here.

And so finally the man who has been taking ad hominem shots at his opponents for years, instead of actually challenging their ideas because his ability to engage in a logical, factual manner is non-existent at best, and utterly humiliating at best, finally and deservedly finds himself on the receiving end of public ridicule and mockery.

To wit:

Stephen Roach: "This style of personalizing attack journalism is not effective in going deep and important policy issues."

Olli Rehn: "I would rather comment on the analytical substance rather personal attacks."

But the best comes from Niall Ferguson who told Bloomberg TV the following:

"In my view Paul Krugman has done fundamental damage to the quality of public discourse on economics. He can be forgiven for being wrong, as he frequently is--though he never admits it. He can be forgiven for relentlessly and monotonously politicizing every issue. What is unforgivable is the total absence of civility that characterizes his writing. His inability to debate a question without insulting his opponent suggests some kind of deep insecurity perhaps the result of a childhood trauma. It is a pity that a once talented scholar should demean himself in this way."

More from Bloomberg TV:

And while it is best to leave it at that, as it is a well-known truism that one shouldn't dirty their hands by handling matter of the Krugman kind, one does hope that a certain Carl Icahn does get involved and launch a 45 minute tirade against the liberal Op-Ed writer.

Alas, for that to happen, it would imply Krugman would have done at least one trade in his highly theoretical life. Which as everyone knows, has and will never happened: because reality, and the mathematical equations describing it are just two very different worlds for the trillion dollar coin-endorsing Nobel prize winner.

 

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Wed, 03/06/2013 - 14:25 | 3305413 redpill
redpill's picture

It was that one time Beavis lit his ass on fire.

Wed, 03/06/2013 - 14:26 | 3305421 RacerX
RacerX's picture

just 1 time??

Wed, 03/06/2013 - 14:32 | 3305452 Say What Again
Say What Again's picture

Hey krug-man.  Tell me moar about the hamsters

Wed, 03/06/2013 - 14:36 | 3305470 TheFourthStooge-ing
TheFourthStooge-ing's picture

As a child, Krugman was buggered by a rabbit in a pet store.

Wed, 03/06/2013 - 14:56 | 3305536 SafelyGraze
SafelyGraze's picture

only an imbecile could write an article like this.

I cannot explain the author's inability to make -- or to follow -- a meaningful argument. I can only hope that they will seek counseling for their obvious cognitive and emotional deficits.

but the readers of this forum are probably too immature (or stoned) to even be aware of it. or to demand better.

that's why we're richer than you.

hugs,

paul 'n' jamie

Wed, 03/06/2013 - 14:59 | 3305547 NotApplicable
NotApplicable's picture

FWIW, I agree with Krugman that he is "effective at raising issues," but no one ever said he sucked at being a sophist.

If he was a failure, no one would know his name.

Wed, 03/06/2013 - 15:03 | 3305553 camaro68ss
camaro68ss's picture

Krugman reminds me of the kid that always gets picked last on a team.

he would always talk it up at how good he is until its time to Perform, them blames his shitty performance on a Sprained ankle when In all actuality, hes just a shitty player

 

 

Wed, 03/06/2013 - 15:06 | 3305575 Dr Paul Krugman
Dr Paul Krugman's picture

Go to any University and ask the professors if they agree with my theories.

Wed, 03/06/2013 - 15:12 | 3305605 sbenard
sbenard's picture

I have. They don't!

Wed, 03/06/2013 - 15:19 | 3305642 MagicHandPuppet
MagicHandPuppet's picture

I often wonder who is more idiotic: Paul Krugman or the numbskulls who awarded him the Sveriges Riksbank Prize in Economic Sciences (in Memory of Alfred Nobel).

Wed, 03/06/2013 - 15:43 | 3305762 TruthInSunshine
TruthInSunshine's picture

Krugman is to the fractional fiat reserve monetary system/MMT what Goebbels was to the Nazis.

...at least until Krugman lost his fukkin' mind and began babbling publicly about "Alien Invasion Stimulus Programs" and proclaiming that there's literally no debt that could be deemed "too high" for the United States.

The real irony is that, in similar fashion to how progressives claim that the working class in southern states vote against their economic interest by voting for GOP candidates, Krugman's cult-like followers all fall in line to echo Krugman's effusive praise of Bernanke's Quantitative Easing4ever.

Wed, 03/06/2013 - 16:05 | 3305851 formadesika3
formadesika3's picture

Krugman is advising Beppe Grillo.  Great comedy team duo, the joke's on Italy.

Wed, 03/06/2013 - 17:27 | 3306152 TruthInSunshine
TruthInSunshine's picture

Actually, despite the across the board slandering of Grillo by the "financial & economic experts" of the Krugmanomics/neo-butchering-of-much-of-Keynes persuasion, much of (not all) what Grillo says makes a lot of sense.

Wed, 03/06/2013 - 20:41 | 3306770 WhiteNight123129
WhiteNight123129's picture

Ok, I think it is actually fun and witty this monty python quote. http://www.youtube.com/watch?v=9V7zbWNznbs

Come on Niall Ferguson should chill out. We put on this blog charicatures of Krugman, and having fun with Keynesianism which pushed to its bad interpretation and limits is actually hyperinflation but why would Krugman not be allowed to poke fun?

 

Wed, 03/06/2013 - 21:34 | 3307122 smlbizman
smlbizman's picture

i honestly beleive, after watching this guy with his behavior and facial expressions, especially his eyes...that he is not of sound mind and body....no sarc....

Thu, 03/07/2013 - 00:53 | 3307701 TruthInSunshine
TruthInSunshine's picture

You think that?

Many of us KNOW it. Krugman puts the batshit in crazy.

Here's Beppe Grillo, by the way,  - you want to talk about "must see TV?"  This is the real shiznit:

We Can No Longer Tell A Debt From A Credit Thanks To The Fractional Fiat Central Bank Jackals

Wed, 03/06/2013 - 15:14 | 3305613 I am more equal...
I am more equal than others's picture

The list would be too long to publish.  And yet those who can't teach.  Go figure.

Wed, 03/06/2013 - 15:21 | 3305649 adamas
adamas's picture

Dr Krugman, you are economically illiterate, your list of failed theories would be too long to type on this forum , just let it be said that you will be exposed as an utter failure as the entire system im/explodes within the next few years. you shoud have read Menger instead of Keynes.

Wed, 03/06/2013 - 15:24 | 3305668 Dr Paul Krugman
Dr Paul Krugman's picture

In summery:  Ad hom, ad hom, ad hom, the world will and any day now.

Thank you for farting in my direction.

Wed, 03/06/2013 - 15:41 | 3305750 adamas
adamas's picture

Dr Krugman, you and I are very different individuals, I do things, you theorise about possibilities , I make real goods in a real market for real people and sell them globally making millions of your precious dollars every year (converted regularly into gold bullion), that is because I am a person with creative ability and drive, I truly don't need to fart in the direction of a discredited lecturer, if you wish to debate keynes Vs Austrian school , sensibly without resorting to your facile and offensive comments you know where I am.

Wed, 03/06/2013 - 16:27 | 3305944 DoneThis2Long
DoneThis2Long's picture

Thank you for farting in my direction.

Andnow take a deep breath ... deep ... deep ... hold .... hold

Do not exhale till I tell to !!!!

Wed, 03/06/2013 - 15:23 | 3305661 Zap Powerz
Zap Powerz's picture

Mr. Krugman,

It would be easier to consider your arguments if you were more logical and less emotional when making them.

Emotion clouds judgement.  Emotion is irrational and illogical.  I understand that economics isn't a real (hard) science, but I believe you still need to remain logical in your economic arguments.

I appreciate all the time and effort you have put in to the study of economics.  You have probably forgotten more than I will ever learn on the subject. But all your knowlege and experience is being adulterated with emotion.  You have good information, but you draw bad conclusions because of emotion.

You clearly have an ideological agenda that you feel very strongly about.  It is your desire to prove your ideology is right above all else that causes you to make mistakes.  In order to learn the truth, you have to be willing to accept the possibility that you could be wrong, that everything you have ever believed is wrong and you actually know a lot less than you think you do.

 

Wed, 03/06/2013 - 15:36 | 3305727 Dr Paul Krugman
Dr Paul Krugman's picture

Thank you for your comment.  You may be right; maybe I should take a deep breath and relax. 

I do feel strongly about my views; we are talking about the greatest recession - and remember I have called it a depression - since the 1930s.  I hope that taking fire from Joe Scarborough, CNBC pundits, and others - Zero Hedge for example - would be outweighed by my desire to make the right decisions concerning the economy.

Wed, 03/06/2013 - 15:46 | 3305770 WhiteNight123129
WhiteNight123129's picture

This guy is not Paul Krugman, this guy confuses money and credit. Krugman can tell the difference.

 

Wed, 03/06/2013 - 18:25 | 3306404 MortimerDuke
MortimerDuke's picture

Agreed.  This tool is not Paul Krugman.  But he is an amusing replica.

Wed, 03/06/2013 - 15:50 | 3305782 Say What Again
Say What Again's picture

Dude -- I can't decide if you're a funny guy prodding everyone into stupid discussions, trying to get them to over react or the real thing (i.e., really the krug-man).  One thing I'm certain about is that the real krug-man is enough of a narcissistic POS to actually post here.  Either way -- I find your post to be VERY entertaining.

Keep up the good work!

Wed, 03/06/2013 - 21:34 | 3307124 Temporalist
Temporalist's picture

I totally disagree.  The Krugger would never stoop so low as to be confronted by the plebes that disagree with him.  He's far too important for that.  Additionally as a narcissist he'd never think he'd have to answer for himself or his beliefs he just makes statements.

The Platinum Pontiff is ordained by god himself (Keynes).

Wed, 03/06/2013 - 15:53 | 3305796 whotookmyalias
whotookmyalias's picture

I do not claim to be very smart but I do wonder about some things.  

  1. It appears that most of the wealth created by the Fed policies has not produced a rise in real wages and buying power, but has inflated the stock and housing markets. I don't see how this is sound policy.  It is going to make people even more reliant on government while our taxes are rising, health costs are rising, and retirements are put at risk.
  2. People say that inflation is low and yet most times whent they say this it just means they haven't been to the grocery store or gas station recently.  A half gallon of OJ is not only more expensive, but it's not a half gallon anymore.  
  3. Finally why doesn't it worry economists and government officials that the US has acheived a lot of it's growth by outsourcing jobs.  I find it hard to have a real recovery without having the ability to produce value. The Chinese understand this.  The US does not. And I say does not because no matter what they say, their actions do not attempt to address this matter.

 

Wed, 03/06/2013 - 18:05 | 3306329 Zap Powerz
Zap Powerz's picture

Mr. Krugman,

In my humble opinion, the economy isnt something that needs to be managed.  To me, that is the flaw in your thinking.  You think with the right formula we can create a perfect system.  We cant!

The economy is organic. Its the byproduct of millions of people making choices everyday.  Its impossible to control that and have a good outcome.

Allow freedom to flourish and the economy will flourish.  The more we try to control and manipulate the economy, the worse it gets!  Lets just try leaving it alone for a while and heal from all the damange we have done to it.

Wed, 03/06/2013 - 15:26 | 3305680 resurger
resurger's picture

"Print"

Wed, 03/06/2013 - 15:29 | 3305694 sodbuster
sodbuster's picture

theory- An assumption based on limited information or knowledge; a conjecture. An unproved assumption.

Wed, 03/06/2013 - 15:39 | 3305744 Dr Paul Krugman
Dr Paul Krugman's picture

the analysis of a set of facts in their relation to one another

the general or abstract princeples of a body of fact, a science

a plausible or scientifically acceptable general principle or body of principles offered to explain phenomena

Wed, 03/06/2013 - 15:45 | 3305766 espirit
espirit's picture

Spell checker on the fritz?

Wed, 03/06/2013 - 16:00 | 3305827 sodbuster
sodbuster's picture

The fact remains, they are unproven assumptions. Abstract. General principles. In other words, your best guess. The truth is, the fed does what it does, to prop up the TBTF banks. The hell with everything else.  The policy of the government to inflate is a bid toward the people that really run things- the banks and the wealthy. Inflation is the primary means by which the poor can be robbed and the rich grow much richer. Inflation is the very core of the great scam. The TBTF banks got a new asshole ripped open, because of the massive leverage they use, inflation and fiat printing is their way out. You just carry their dirty jockstraps.

Wed, 03/06/2013 - 16:06 | 3305862 petolo
petolo's picture

......and wet birds never fly at night.

Wed, 03/06/2013 - 15:30 | 3305699 adamas
adamas's picture

he just +1 his own comment , hilarious!

Wed, 03/06/2013 - 15:57 | 3305803 AurorusBorealus
AurorusBorealus's picture

I spent a lot of time in the American Universities.  Most of the professors there believe that gender is a social / cultural construct (despite a host of biological evidence, including the act of reproduction, to indicate otherwise).   Most of the professors there also believe in some version of Marxist / Gramscism.  Most of the professors there also believe that objectivity is impossible and that every statement is the exercise of power, ala Diderot / Foucault and that the sole function of the university is to engage in the political struggle to dominate the minds of the people.  Of course those same professors agree with you.

 

Wed, 03/06/2013 - 16:43 | 3306011 JethroTull
JethroTull's picture

I this you mean Derrida.

Wed, 03/06/2013 - 16:17 | 3305904 caimen garou
caimen garou's picture

childhood trauma, ha what happened mom pulled you her tit at 40? poor baby!

Wed, 03/06/2013 - 16:59 | 3306057 Overfed
Overfed's picture

There's the problem. too many university professors are morons who agree with your theories and indoctrinate their students with them. Scarcely odd that we're totally fucked.

Wed, 03/06/2013 - 15:23 | 3305660 DeadFred
DeadFred's picture

Before a department meeting when I was complaining about the childish infighting among the professors my coworker said "Remember that kid on the playground in elementary school who was called 'four-eyes' and and got swirliied in the toilet? That was us and it's no wonder we act so strange now that we've supposedly grown up" So true. 

Wed, 03/06/2013 - 15:42 | 3305758 formadesika3
Wed, 03/06/2013 - 15:04 | 3305569 Dr Paul Krugman
Dr Paul Krugman's picture

I have been writing about the ineffectiveness of Olli Rehn's policy for awhile; not sure why this is news.  But since it is news to those who blog from padded white walled bunkers, clutching rocks, yelling about the end of the world any day now, I will share the view:  The fact is that Rehn has been wrong; Ferguson has been wrong - and he has been admittedly so - and I am just pointing out the facts.

The facts are the austerity that has been forced upon Europe has had adverse effects on Europe for years.  When anybody points to debt/gdp figures they ignore that post war Britain had much higher debt/gdp then they do now.  Why are we even discussing austerity when history proves that these claims are unsupported?

And as for all the ad hom attacks that will come, well, you can show the truth to a cockroach, but at the end of the day, it is still just a bug.

Wed, 03/06/2013 - 15:05 | 3305573 akak
akak's picture

Did you buy that mouthwash yet?

Wed, 03/06/2013 - 15:07 | 3305581 Dr Paul Krugman
Dr Paul Krugman's picture

Skull and crossbones guy, do you think you are a pirate?  Why don't you ad hominem me like you did last time.  That seems to work well for you.

Wed, 03/06/2013 - 20:54 | 3305592 WhiteNight123129
WhiteNight123129's picture

Well if you do austerity without writting off bad debt it does not work. So to that extent Krugman has a point.

Ok for austerity but then US has to default of on its debt, a large portion of large banks would go belly up. Consumers have no access to credit card debt and so on and so forth.

Hugely painful but then after all the bad debt is written off, quick recovery. Liquidity should be provided to good banks with good assets, unlike 1929-1933. And then recovery.

It makes no sense to call for austerity without writting off all of hte bad debt. If you are not willing to write off the bad debt, the only alternative is inflate away with teh Gov using newly printed base money to push up prices.

So Austerity cum keep up the bad debt whole is a non starter = permanent depression = Europe

 

Actually if Niall Ferguson calls for Austerity without doing the massive write off of bad debts, he is more in the wrong than Krugman. At least Krugman is consistent with his inflate away program. Keynes works in teh short term but it creates negative duration environment which is bad for investment and bad for projecting yourself in teh future, it degrades morality, incentive to save, incentive to work, it promotes incentives to cheat, and rewards bad behavior, creates a class of people being cheated while they were trying to save money and not buy homes they could not afford and trying not to borrow too much. So Keynesian solution in the short term is beautiful, in the long term horrendous for society. Ok in the long run we are all dead, but I would have loved to retort to Keynes ~ You first Sir! ~

 

Wed, 03/06/2013 - 15:10 | 3305594 WhiteNight123129
WhiteNight123129's picture

I still think you are not Paul Krugman but an imposter because the other day you confused credit and money...

Wed, 03/06/2013 - 15:15 | 3305620 Dr Paul Krugman
Dr Paul Krugman's picture

Here, I wrote this awhile ago; it should explain things for you -

Banking Mysticism, Continued:

http://krugman.blogs.nytimes.com/2012/03/30/banking-mysticism-continued/

Wed, 03/06/2013 - 15:35 | 3305722 WhiteNight123129
WhiteNight123129's picture

Please read Thorton, he is far better than this blog piece.

Banks do not create money. Money is the irredeemable stuff. That is M0, that is excess resreves with the Fed and the bank notes, the think that can not be redeemed into something else.

What you have in your bank account is not money, it is a credit from teh bank and a debit on your side. Net net 0. Read Thorton he explains that better than me.

Money can not go bankrupt and fail or it is credit. So to that extent since your deposit can technical fail, it is not be money. If there was no risk of bank failure and if a deposit at the bank was money, there would be never be a risk of losing your deposit.

Even the people going for their bank notes at Northern Rock understand that those bank notes are the irredeemable stuff that can not fail.

In the fixe monetary regime (bi-mettalic and Gold) we all know what the iredeemable stuff is.

You are definitely not Paul Krugman. Paul Krugman calls for Gov to use base money and spend. He understands that. You are an imposter.

Why do you think the Fed is increasing teh base money (excess reserves)? Because we have too much of thing you call money (which is only created by credit ) in relatio to base money.

The same happened in GOld system, too much credit to base money (Gold), you ahve to restore the ratio. The only way you can do it in Gold system is through bankruptcies. In fiat we can expand base money and de-lever that way, at the cost of long term inflation (Hume, Fullarton, Friedman everybody knows, the real Krugman even calls for this.

So please leave that blog because you are not Paul Krugman.

 

Wed, 03/06/2013 - 15:45 | 3305765 Dr Paul Krugman
Dr Paul Krugman's picture

I understand what you think I don't.  Maybe you misconstrued a post I made.

Wed, 03/06/2013 - 15:52 | 3305775 WhiteNight123129
WhiteNight123129's picture

So why are you calling a credit from the bank, which can fail technically, why do you call that money? Money does not have risk of failure. Credit does. So your bank deposit is clearly credit. The fact there is FDIC does not make it money.

I think you are imposter. Krugman would not waste his time with silly charicature. Krugman has written very well about international trade, very deep stuff. Krugman would not waste his time on this blog. So you are an imposter. There interesting posts on this blog, but there are racist nut jobs and antisemitic idiots here. From time to time there are important interviews and different viewpoint.

Wed, 03/06/2013 - 15:49 | 3305778 TruthInSunshine
TruthInSunshine's picture

I love you, Dr. K.  I totally get your snark, and you've elevated it to a high art form that exposes the lunacy that is Krugmanonics in brilliant fashion!

Wed, 03/06/2013 - 17:11 | 3306094 Overfed
Overfed's picture

He is an imposter, ya' silly. He's intentionally coming off like Krugman in order to illustrate just how cracked the real Krugman and his ilk really are. Go with it. It's fun. MDB does the same thing.

Wed, 03/06/2013 - 15:39 | 3305741 Sancho Ponzi
Sancho Ponzi's picture

You think banks are reserve constrained, which they are not. There is no such thing as a liquidity trap, yet you bring it up time after time. We are in a balance sheet recession, and banks aren't lending because there are few qualified would-be borrowers. How can such an 'acclaimed' economist know so little about real-world banking?

Wed, 03/06/2013 - 15:59 | 3305820 venturen
venturen's picture

What I can't figure out is why Krugman protistutes himself for the worst of America? 

Wed, 03/06/2013 - 15:57 | 3305809 css1971
css1971's picture

Of course it's not, it's a troll. It would be particularly sad if a "Nobel" prize winning economist spent any time at all on Zero Hedge.

Wed, 03/06/2013 - 15:12 | 3305604 WhiteNight123129
WhiteNight123129's picture

You should read fullarton and Tooker to understand the difference between Credit and money.

 

Wed, 03/06/2013 - 15:25 | 3305670 SnobGobbler
SnobGobbler's picture

Awww... guys I think his feelings got hurt; can we lay off him?

oh yeah; fuck-yourself krugman!

Wed, 03/06/2013 - 15:12 | 3305603 americanspirit
americanspirit's picture

And you can give a PhD to an idiot but in the end they are still an idiot.

Wed, 03/06/2013 - 15:21 | 3305650 sbenard
sbenard's picture

For the first two paragraphs of your comment, I actually thought for a moment that you might make some important and thought-provoking comments that were deserving of consideration. But alas, in your last sentence, you proved Ferguson's point and proved that you are what you loathe -- a bug!

Wed, 03/06/2013 - 15:42 | 3305746 knukles
knukles's picture

And so the pot calls the kettle black with his own as usual ad hominem performance.
QED, a significant character defect illuminating the credibility problem.

Grow the fuck up.

Why in God's name are you bothering with the Hedge, anyhow?
Seriously.

Wed, 03/06/2013 - 17:22 | 3305860 Bunga Bunga
Bunga Bunga's picture

The Greeks, Spaniards and others should continue to live above their means? If you, as a nobel prize economist, support this idea, you also have to come up with an idea who funds this welfare. The productivity in these countries can never support retirement at age of 55, when one of the most productive economies in Europe has a retirement age of 67. Always saying repeatedly "no austerity" is easy, but I completely miss the math and economics behind it.

Wed, 03/06/2013 - 14:58 | 3305542 Shell Game
Shell Game's picture

Rabbits: the Keynesians of the animal world.  Now it's all making sense...

Thu, 03/07/2013 - 01:40 | 3307836 prains
prains's picture

Akkchewally

 

It's very simple, he lives in fear of the orange bib

he knows one day he'll don the bib and hand out flyers welcoming patrons to shalom depot

Wed, 03/06/2013 - 14:37 | 3305477 Stackers
Stackers's picture

Krugman is just your typical intellectually dishonest hypocritical liberal. Bill Maher is the poster child

Wed, 03/06/2013 - 14:39 | 3305487 resurger
resurger's picture

Krugman is a fucking Angel compared to Bill Maher

Wed, 03/06/2013 - 14:53 | 3305518 booboo
booboo's picture

Well Maher claims to be a "comedian" also, personally I think he is dead, his eyes are black and has pastey white skin, he either needs to see a mortician or a new make up person. As for the Krug, he is doing what he is told to do by his masters and he does it with glee because he believes his own shit. The statist have to have a point man in every industry, he is our Winston Churchill, just spreading the bullshit in the run up to war.

Wed, 03/06/2013 - 14:42 | 3305500 eatthebanksters
eatthebanksters's picture

Krugman...Nobel for economics, Al Gore...Nobel for ?....Obama...Nobel for peace     Nobel...what a fucking joke!

Wed, 03/06/2013 - 16:37 | 3305977 DoneThis2Long
DoneThis2Long's picture

Homer Simpson nominee for the Literary Prize = Obama Peace Prize. Good joke.

 

Wed, 03/06/2013 - 14:47 | 3305508 MillionDollarBoner_
MillionDollarBoner_'s picture

Yeah, just one time...at band camp...

Wed, 03/06/2013 - 14:27 | 3305424 Say What Again
Say What Again's picture

Krugman was on Charlie Rose the other night.  Its scary to hear just how stupid this POS is.  He was complaining that the bernank has NOT been printing enough!

Wed, 03/06/2013 - 14:31 | 3305445 azzhatter
azzhatter's picture

He also thinks gov spending should be 50% of GDP

Wed, 03/06/2013 - 14:38 | 3305484 resurger
resurger's picture

He will log on ZH and and attack you very soon Azzhatter ...

 

Wed, 03/06/2013 - 14:56 | 3305537 Teamtc321
Teamtc321's picture

If Krugman does log in, ask him how his head got so pointed in his econ year book picture above. I place my fiat bet that is caused from being flushed down the shitter so many times and hang's up, causing Logger jam head. Maybe not though, I might loose my fiat, upon futher glance at said nobel priiize photo shoot pic, you would think he would have some guns from all the chin ups trying to pull out.

Just saying ........... 

Wed, 03/06/2013 - 14:42 | 3305495 Nothing To See Here
Nothing To See Here's picture

Bring it on tomorrow if you ask me. Better than to crawl there slowly. That's the point where the monetary system changes (or hopefully before).

Wed, 03/06/2013 - 14:47 | 3305456 RockyRacoon
RockyRacoon's picture

Joe Scarborough chewed ole K-man up pretty badly.  I almost felt sorry for Krugman... almost.  (Not really.  It was delightful.)

Joe called him out on the housing bubble thing and that is gonna leave a scar.

The Krugman accused Joe of using an ad hominem attack!  It illustrates the Bloomberg clip precisely.

Here's the contentious housing bubble analysis:

http://mises.org/daily/6372/Krugmans-Call-for-a-Housing-Bubble

 

Wed, 03/06/2013 - 15:45 | 3305767 knukles
knukles's picture

His performances remind me of some character defects that a serious moral inventory might help uncover.  :)

Wed, 03/06/2013 - 16:47 | 3306025 RockyRacoon
RockyRacoon's picture

One has to admit the problem first.   That could present a problem for an ego that size.  Not all of us were burdened by the Nobel Prize.  I can just imagine the hurdle that would present.  I'm sure we could find him a sponsor here amongst the ZH denizens.

Wed, 03/06/2013 - 14:58 | 3305546 Motorhead
Motorhead's picture

Yeah, I saw part of that on TV, too, last night.  I wanted to puke when I saw that fucking dork and changed the channel immediately (only to see ManU get robbed by shitting officiating).

Wed, 03/06/2013 - 16:51 | 3306037 Miss Expectations
Miss Expectations's picture

That blogger Krugman is NOT stupid.  He's filled with hubris.  Goy are so stupid that they don't know when they're being played...and by played, I mean systematically destroyed.

Wed, 03/06/2013 - 14:43 | 3305501 Taffy Lewis
Taffy Lewis's picture

Krugman as Butthead - comedy genius, WB!

Wed, 03/06/2013 - 14:47 | 3305509 candyman
candyman's picture

Please...Stop giving this fake any credit at all. The nobel prize he won was based on ONE theory of thousands! It has nothing to do with his "Body of work" he contributed over a lifetime. He won one fucking poker game after playing endlessly for 20 years.

Wed, 03/06/2013 - 14:52 | 3305529 Seasmoke
Seasmoke's picture

He is the Chris Moneymaker of Economics.

Wed, 03/06/2013 - 15:09 | 3305570 Alpo for Granny
Alpo for Granny's picture

I'm not sure but I think he lived in the neighborhood. I remember one time out by my rose garden that he got into a fight with a very intelligent young man named Ludwig. It was an epic battle for sure. Now this was many moons ago, but I clearly remember Ludwig brought a silver shield and really shiny gold sword and young Paul brought a paper shield and paper gun. Boy they went at it for a while as little Pauly had lots and lots of paper bullets that would sting Ludwig but most of the time he just clutched his silver shield and golden sword and hung on. Eventually things swung handily in favor of Ludwig and he soundly defeated young Paul. That young man was never the same.....

Wed, 03/06/2013 - 14:26 | 3305417 reader2010
reader2010's picture

I knew it. 

Wed, 03/06/2013 - 14:26 | 3305418 RacerX
RacerX's picture

I'd love to cage-match Krugman.

Wed, 03/06/2013 - 14:27 | 3305427 Winston Churchill
Winston Churchill's picture

Bedwetter til his 23rd birthday ?

Wed, 03/06/2013 - 14:38 | 3305476 redpill
redpill's picture

Breastfed during puberty perhaps?

Wed, 03/06/2013 - 14:49 | 3305516 francis_sawyer
francis_sawyer's picture

and scrotum-fed thereafter...

Wed, 03/06/2013 - 15:36 | 3305725 machineh
machineh's picture

Keynesian milk ... they call this substance the fount of knowledge.

Wed, 03/06/2013 - 14:53 | 3305530 Tinky
Tinky's picture

You say that like it's a bad thing.

Wed, 03/06/2013 - 14:27 | 3305428 kliguy38
kliguy38's picture

One always needs a good shill for a good Con.........

Wed, 03/06/2013 - 14:27 | 3305429 Gulfcoastcommentary
Gulfcoastcommentary's picture

Thanks Niall for laying it out there for everyone to see.  Great job!

Wed, 03/06/2013 - 14:29 | 3305434 resurger
resurger's picture

Ad Hominem is what i do for living.
Wed, 03/06/2013 - 14:30 | 3305438 Charles Wilson
Charles Wilson's picture

Heh...heh...He said..."Quantitative Easing"...Heh...Heh...Heh...

Wed, 03/06/2013 - 14:30 | 3305439 azzhatter
azzhatter's picture

Perfect description Niall. I think a gold bar was dropped on his head at an early age

Wed, 03/06/2013 - 14:30 | 3305440 Dapper Dan
Dapper Dan's picture

Economist,   in the same way that vending machines are "chefs".

Wed, 03/06/2013 - 14:32 | 3305448 azzhatter
azzhatter's picture

Bistros

Wed, 03/06/2013 - 14:31 | 3305446 youngman
youngman's picture

He said on Charlie Rose that we should not stop printing for 10 years...thats another 14 trillion in debt....how would that work out...not well i think ..but I am not an ECONOMIST....like he is..he is so smart..just ask him...he is not an economist either..he is a political hack...that is all

Wed, 03/06/2013 - 14:32 | 3305449 tony bonn
tony bonn's picture

krugman is an economic terrorist shilling for the rockefeller axis of evil who hired indonesian citizen soetoro to terrorize us with trillion dollar deficits as far as the eye can see using krugman's voodoo economics as a justification....

Wed, 03/06/2013 - 14:33 | 3305453 madcuban
madcuban's picture

--His inability to debate a question without insulting his opponent suggests some kind of deep insecurity perhaps the result of a childhood trauma.--

Sounds to me like the occasional zh poster when confronted by another on facts, truth, and critical thinking.

Wed, 03/06/2013 - 14:58 | 3305545 Drachma
Drachma's picture

All depends on your definition of critical thinking and what is is. I did not write this.

Wed, 03/06/2013 - 14:32 | 3305454 Lord Of Finance
Lord Of Finance's picture

I watched that Charly Rose cocksucking fest. It was a joke, and as you can imagine, quite disgusting.

 

They had frickin' Joe Scarborough as the man on the other side of the issue!!!

 

It was sad 

Wed, 03/06/2013 - 15:49 | 3305780 knukles
knukles's picture

Scarborough from MSNBC no less and Charlie Rose hisself who is a perpetual original card carrying founder of the Bilderberg Broup, ate him alive.
Holy smokes!
Serious professional help time.

Wed, 03/06/2013 - 14:33 | 3305458 LeisureSmith
LeisureSmith's picture

The tale of the Tool & the Fool.

Wed, 03/06/2013 - 14:36 | 3305469 Nothing To See Here
Nothing To See Here's picture

Krugman would not do any damage if it wasnt for those who gave him a Nobel and who still give him a column in a crappy newspaper.

Wed, 03/06/2013 - 15:35 | 3305720 Dineroguru
Dineroguru's picture

Are you suggest that B. Hussein Obama will have his own news column-- hey maybe BHO can get his own talk show on the TV station Al Gore pirated to the Mideast!

Wed, 03/06/2013 - 14:39 | 3305488 loveyajimbo
loveyajimbo's picture

So he is an asshole... but which apologist for this (or the prvious) administration is not?

Wed, 03/06/2013 - 14:41 | 3305491 sodbuster
sodbuster's picture

Wonder woman is hot!

Wed, 03/06/2013 - 15:36 | 3305728 ParkAveFlasher
ParkAveFlasher's picture

Yes! 

Krugman is a such an overbeaten dead horse that I think I he'll turn up in a meatball one of these days.  He is so full of his own sh!t that Ikea might use him in their chocolate almond tarts.

The NYT is imitation gruyere.  It is glorified cheese wiz, a distinctly American food-like byproduct of industrial (or political, in the case of NYT) processes.

Wed, 03/06/2013 - 14:42 | 3305496 rlouis
rlouis's picture

It can't be because he's.....  oh shit, someone would call me anti-zionist

 

http://en.wikipedia.org/wiki/Paul_Krugman

Wed, 03/06/2013 - 15:41 | 3305753 Canadian Dirtlump
Canadian Dirtlump's picture

So much like Bernanke, he is serving his masters dutifully. One just needs to understand who those masters are. Odd that the portly troglodyte's middle name is robin, as are the names of both of his wives.

Wed, 03/06/2013 - 14:43 | 3305497 yogibear
yogibear's picture

Krugman would make a great Marxist party member, if he isn't already one.

Wed, 03/06/2013 - 14:42 | 3305499 LeisureSmith
LeisureSmith's picture

I have to give the Fool credit for farting in Rehn's general direction. + 1 Monty Python point.

Wed, 03/06/2013 - 14:45 | 3305505 Mad Mohel
Mad Mohel's picture

Some people are just clueless pieces of shit by nature. He may or may not have had anything happen to him in his childhood. My money is that he would have been a useless prick either way. The real question is, why is the system designed to elevate worthless pieces of shit like this to levels of any authority? Have Niall Ferguson answer that.

Wed, 03/06/2013 - 14:47 | 3305513 Seasmoke
Seasmoke's picture

Just like the Bronx Science Track team. Krugman was fingered by the entire track team in the locker room.

Wed, 03/06/2013 - 14:50 | 3305514 malek
malek's picture

That always reminds me of that round where a Spanish economics professor was addressing Krugman in a soft tone and somewhat admiring look with unfinished sentences where every informed listener understood the finished sentences were slaps in the face of Krugman. Krugman was sitting on the side and absolutely fuming. It was great!

Wed, 03/06/2013 - 14:52 | 3305520 NuYawkFrankie
NuYawkFrankie's picture

RE ...inability to debate a question without insulting his opponent suggests some kind of deep insecurity perhaps the result of a childhood trauma

You'll often find it's a a 'non-gentile' thing.

Wed, 03/06/2013 - 14:49 | 3305522 q99x2
q99x2's picture

33 years ago I could have changed the course of my reality. Instead I'm left with Krugman, Bernanke and Obama, Drones and DHS. I've gotta get out of here somehow. All those other possibilities...ease up I'm working on it now. Promise not to get married this time.

Wed, 03/06/2013 - 14:49 | 3305523 lotusblue
lotusblue's picture

Curiously,with advent of Milton Freidman neo-libealism austerity inducing minions (GS,JPM,MS,BAC.....With addition of economists of the "Chicago School" at most US higher institutions) ,we see the US economy dashed upon the shoals unbridaled greed.

 

Wed, 03/06/2013 - 14:50 | 3305524 Aztec Warrior
Aztec Warrior's picture

Hey Beavis - This sucks lets print some more money

Hrrrmm Hahehhehhehehe 

Wed, 03/06/2013 - 14:57 | 3305527 WhiteNight123129
WhiteNight123129's picture

Well if you do austerity without writting off bad debt it does not work. So to that extent Krugman has a point.

Ok for austerity but then US has to default of on its debt, a large portion of large banks would go belly up. Consumers have no access to credit card debt and so on and so forth.

Hugely painful but then after all the bad debt is written off, quick recovery. Liquidity should be provided to good banks with good assets, unlike 1929-1933. And then recovery.

It makes no sense to call for recovery without writting off all of hte bad debt. If you are not willing to write off the bad debt, the only alternative is inflate away with teh Gov using newly printed base money to push up prices.

So Austerity cum keep up the bad debt whole is a non starter = permanent depression = Europe

Wed, 03/06/2013 - 15:00 | 3305550 IamtheREALmario
IamtheREALmario's picture

The purpose is NOT to cause a recovery. The purpose is to destroy the middle class, create greater inequality, murder as many as possible and create a manageable number of peasants for the cabal of soiopaths/psychopaths to rule through force. They miss being the petty important kings and queens that their ancestors were. They do nor have the intelligence or social conscience to manage a society of this size and technological advancement.

Wed, 03/06/2013 - 17:05 | 3306070 RockyRacoon
RockyRacoon's picture

You may be closer to the truth than you think.  The masters don't need the proletariat now since communism is an ineffective force in the world.   The concessions to the middle class can be taken back and they can go on as before -- basically two classes.  The 1% has been identified, so all that has to be done now is to compress the lower level.  It will be very painful for one end of that spectrum.

Wed, 03/06/2013 - 15:44 | 3305763 WhiteNight123129
WhiteNight123129's picture

I meant.

It makes no sense to call for AUSTERITY without writing off...

Wed, 03/06/2013 - 15:00 | 3305528 IamtheREALmario
IamtheREALmario's picture

Brings into question the value of Princeton as an institution. Krugman is an embarrassment.

Wed, 03/06/2013 - 15:03 | 3305564 Nothing To See Here
Nothing To See Here's picture

That question has long been answered. Princeton's value is par with the dollar's.

Wed, 03/06/2013 - 14:53 | 3305531 batz
batz's picture

 

 

What are people complaining about, he's angling to be the next Fed chair or Treasury Secretary. He's demonstrating political chops, building alliances, and being a hatchet man for the Whitehouse. 

He's a policy shill, why does anyone indulge him? The sort of palace intrigues the NYTimes covers are just cheap circuses to the Fed's bread. Yawn.

 

Wed, 03/06/2013 - 15:54 | 3305797 knukles
knukles's picture

Man alive.
Chairman of the Fed.

Yo, gubamint!
Y'all wanna weaker dollar?
Guar-an-fucking-teed.

T'would actually be quite nice... higher rates mean more income for me, gold respond positively....  Hmmmmm

Don't ask for what you don't want because you just might get it up the arse. -H L Mencken or somebody

Wed, 03/06/2013 - 14:53 | 3305532 GreatUncle
GreatUncle's picture

The thing that Krugman has yet to figure out (he ain't that smart) is Keynes is a SOCIALIST mechanism but it does not work if you are trying to implement it in a CAPITALIST society.

Reason being capitalism will exploit the f%^k out of Keynes because capitalism is about the fittest survive. Not the everybody being wealthy under Keynes where everybody in the same instant will be poor.

 

Wed, 03/06/2013 - 14:55 | 3305534 Decimus Lunius ...
Decimus Lunius Luvenalis's picture

60 year old virgin? 

Wed, 03/06/2013 - 15:00 | 3305555 NuYawkFrankie
NuYawkFrankie's picture

Probably not - too cheap to spring for soap-on-a-rope...

Wed, 03/06/2013 - 14:56 | 3305540 Yancey Ward
Yancey Ward's picture

60 years spent in the closet will do that to you.

Wed, 03/06/2013 - 15:50 | 3305789 Accounting101
Accounting101's picture

Well aren't you clever. Unfortunately for you, Krugman is right about this deal. Naill Ferguson has been colossally wrong about the big economic issues.

Please, no Austrian bullshit or masochistic nonsense. If you are singing the virtues of austerity, you are siding with the bankers. The oligarchs appreciate you.

Wed, 03/06/2013 - 14:58 | 3305543 Godisanhftbot
Godisanhftbot's picture

 Love the 'submissive'

Wed, 03/06/2013 - 15:03 | 3305562 frenchie
frenchie's picture

being raped by a rabin (dad, uncle ...) usually explains a lot of things...

Wed, 03/06/2013 - 15:13 | 3305606 MacAttack2
MacAttack2's picture

Krugman is a quack

Wed, 03/06/2013 - 15:15 | 3305621 shayneals shayneals
shayneals shayneals's picture

Paul Krugman is an arsehole, a communist at heart both congnitvely/emotionally/economically. But he is not totally stupid (just partially)

A lot of what he says is because his base case scenario is that China is fuc***** america up the arse in an economic war with the express goal of crushing america. Well after being in china for 8 years i can say he is 100% correct. Paul Krugman work on import/export of capital through the trade balance account was quite good. So on this matter he is pretty clear. it is the basis for why he thinks the fed should be print a shit load of USD. In order to devalue China's massive holdings. The way he sees it, printing overall makes china weaker. Pushes inflation where it hurts the most (China) and forces China to revalue. I agree with him on all points here. the problem is he does not grasp what it does or does not care what it does to the poor in the USA. And how it depletes the middle class in every possible way. he is a communist but does not have an agenda with the fed which is not logical. you can not expect government spending to be 50% of gdp when the financial elite are raping the country. so keynes and the fed really can not go hand in hand. you can not be communist and let private bankers rape the shit out of the country.

 

But he is right on China. And because of that, he is not a total cu** The problem is you need some red face angry commie to shout his mouth off. because the smart guys are letting china and the financial elite drip feed all the blood out of america. I am not sure why he would get a noble prize however. 

Wed, 03/06/2013 - 15:15 | 3305622 shayneals shayneals
shayneals shayneals's picture

Paul Krugman is an arsehole, a communist at heart both congnitvely/emotionally/economically. But he is not totally stupid (just partially)

A lot of what he says is because his base case scenario is that China is fuc***** america up the arse in an economic war with the express goal of crushing america. Well after being in china for 8 years i can say he is 100% correct. Paul Krugman work on import/export of capital through the trade balance account was quite good. So on this matter he is pretty clear. it is the basis for why he thinks the fed should be print a shit load of USD. In order to devalue China's massive holdings. The way he sees it, printing overall makes china weaker. Pushes inflation where it hurts the most (China) and forces China to revalue. I agree with him on all points here. the problem is he does not grasp what it does or does not care what it does to the poor in the USA. And how it depletes the middle class in every possible way. he is a communist but does not have an agenda with the fed which is not logical. you can not expect government spending to be 50% of gdp when the financial elite are raping the country. so keynes and the fed really can not go hand in hand. you can not be communist and let private bankers rape the shit out of the country.

 

But he is right on China. And because of that, he is not a total cu** The problem is you need some red face angry commie to shout his mouth off. because the smart guys are letting china and the financial elite drip feed all the blood out of america. I am not sure why he would get a noble prize however. 

Wed, 03/06/2013 - 15:27 | 3305683 css1971
css1971's picture

The economics Nobel prize is like one of those car kits which  turn your Ford into a Lambourghini. On a first pass it looks good but on closer inspection, not quite the real thing.

Wed, 03/06/2013 - 15:57 | 3305808 knukles
knukles's picture

Ah, the old Pintoguido trick

Wed, 03/06/2013 - 15:17 | 3305630 EclecticParrot
EclecticParrot's picture

Trauma, you ask?  His love for 'Lost in Space's' Judy went unrequited.  But to this day he hasn't lost hope.  

No one's yet had the heart to tell him Christmas isn't a weekly event, personally nor economically. 

Wed, 03/06/2013 - 15:26 | 3305676 Mannwich
Mannwich's picture

So sayeth the people at this blog who've (LOUDLY) been wrong over and over and over again.  Priceless stuff.

Wed, 03/06/2013 - 15:35 | 3305719 lunaticfringe
lunaticfringe's picture

Specifically, what is this priceless stuff you refer to Mannwich?

Wed, 03/06/2013 - 16:04 | 3305844 Mannwich
Mannwich's picture

Endless predictions of fantastical stock market crashes, gold going to the moon, hyperinflation, apocalyptic doom and gloom delusions of grandeur.  For over four years now.  Every now and then I lurk to see what's being predicted here so that I can expect the exact opposite to happen.  It's very entertaining.

Wed, 03/06/2013 - 15:31 | 3305706 lunaticfringe
lunaticfringe's picture

Anytime someone thinks it is necessary to call their opponents names- that's when you know you have won. They have no tangible arvgument left- they are reduced to name calling because their opinion or thesis fails.

Demand facts or supporting evidence anytime someone is uttering opinion as though it is factually based. The facts don't support Krugman's positions. He has no credibility and therefore.. he should be dismissed.

Wed, 03/06/2013 - 15:40 | 3305751 flacorps
flacorps's picture

"How Dare You!" from your opponent is also a pretty good clue.

Wed, 03/06/2013 - 16:06 | 3305861 Mannwich
Mannwich's picture

Rich, coming from the blog and comments that have made the ad hominem a sewer art form.  So, I'll bite - what exactly has Krugman been "wrong" about?  

Wed, 03/06/2013 - 15:33 | 3305714 ebworthen
ebworthen's picture

Krugman probably had potty training trauma.

Krugman would be right if we weren't $16+ Trillion in debt with $225 Trillion of unfunded liabilities and headed for the greatest collapse in the history of civilization.

Everyone would be rich if they had a credit card with no limit.

"What, me worry?" I could say on my vacation paid for by other people.

Anyone speaking of responsibility and saving and paying debts would look like a fool if I could rub my "wealth" in their face and never have to be wrong because someone else was paying the tab and no one was arresting me.

Do NOT follow this link or you will be banned from the site!