Krugman: "To Join Trump Administration You Have To Be A White Nationalist, Conspiracy Theorist"

Tyler Durden's picture

Paul Krugman wants you to know that, in his view, the markets are misinterpreting "Trumponomics" and because he is far smarter than you, the markets, and pretty much anyone else, it's important to pay attention.

Of course, this shouldn't be terribly surprising as Trump could literally announce that he found a cure for cancer and Krugman would immediately take to the New York Times to pen an op-ed defending malignancies, and how its eradication would mark the end of "hope" for mankind.

In any event, Krugman posted a short article to his twitter account this afternoon warning that the markets' interpretation of "Trumponomics" is all wrong.  While the confused Keynsian would ordinarily praise aggressive infrastructure plans, like the one proposed by Trump, in this case he's willing to make an exception and notes that the plan looks more like a "privatization scheme" than an "actual plan to boost public investment."  And while Krugman has never before seen a budget deficit that he didn't criticize for being too small, Trump's "privatization scheme" combined with "tax cuts for the rich" suddenly has him extremely worried about federal debt balances. 

Financial markets seem to have decided that the Siberian candidate will pursue strongly expansionary macroeconomic policy. Long-term interest rates have risen sharply; expected inflation is also up, although not as much.

 

But are the markets getting this right? I suspect not: fiscal policy probably won’t be expansionary as expected (or maybe at all), and Trump’s economic team is looking like a gathering of goldbugs, who will if anything push for deflation.

 

On the fiscal side, I’m still seeing people talking about a huge infrastructure push. But there’s no indication that Republicans in Congress are at all eager to get moving on this push; their priorities seem to be repealing Obamacare and tax cuts for the rich, perhaps especially the estate tax. And in any case what we know about that supposed infrastructure push is that it looks much more like a privatization scheme than an actual plan to boost public investment.

 

So what we’re really looking at is a combination of tax cuts and spending cuts. Overall, this will surely increase budget deficits. But the tax cuts will go to the wealthy, who won’t spend much of their windfall, while the spending cuts will fall on the poor and struggling workers, who will be forced into sharp cutbacks in spending. The overall effect on demand is therefore likely to be negative, not positive.

For proof of his view on "Trumponomics," Krugman provided the following tweet storm, for your reading pleasure, highlighting the "gathering of gold bugs" known as Trump's cabinet.  Apparently Mnuchin "hangs out" with John Paulson so he's guilty by association.  Meanwhile, Mulvaney had the audacity to imply that the Fed's 0% interest rate policy might result in a weak USD.  And Larry Kudlow, well everyone knows that he is under the perpetual illusion that we're still living in the 1970's.

 

While Krugman blasts the Trump tax plan as a blatant gift to rich people he ignores that people of all tax brackets would get breaks under Trump's plan.  Trump Tax Plan:

Trump Taxes

Current 2016 Tax Brackets:

2016 Taxes

He also ignores the reduction in corporate taxes that will impact 1000's of small businesses around the country and the expectation that the new administration will slash regulations which is nothing more than a massive, conservative form of fiscal stimulus. But lets not allow facts to get in the way of a good narrative.

Finally, Neeraj Agrawal wins the award for "most outstanding response" to Krugman's latest rant:

And finally, not satisfied with his almost-insane allegations, Krugman played the race-card

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robertocarlos's picture

And gold is real money with no interest paid to bankers.

Mountainview's picture

As long as Krugman is not on board, it's just fine...

Au_Ag_CuPbCu's picture

Go pound sand Krugman, you sack of assholes!

mtl4's picture

The only one who listens to Krugman is .gov and that's because it suits their agenda quite nicely.........rest of us are quite happy with goldbug economic policy.

NoDebt's picture

This could be one of the few times that I'm agreeing with a lot of what Krugman says.  It's just he's saying it like it's a bad thing and I'm sorta thinking "yeah, I'm not entirely opposed to that, actually."

However, I don't want to hear shit from Kugman about the "debt" or the "deficit".  He doesn't have a leg to stand on in that area, Mr. 'I Never Saw A Deficit Big Enough To Satisfy Me.'

 

 

froze25's picture

Good to see that Kugman thinks Ben Carson is white.

New England Patriot's picture

Whenever I want to know what to make of Trump, I just consider the reaction of people I think are idiots. 

HopefulCynical's picture

Krugman's just one more for the EABOD list.

Luc X. Ifer's picture

Just got struck ... will Trump return to the GOLD standard? That would be mortal for the globalist bankers agenda

beemasters's picture

??? Maybe he meant Goldman bugs? Each one has helped in the manipulation of (ie. whacking) the metal...

Pinto Currency's picture

A conspiracy theorist like those blaming Russia for release of DNC e-mails of mobsters Clinton, Podesta etc. when DNC employee Seth Rich released the e-mails and got 2 bullets in the back of the head as a thank you.

A conspiracy theorist like Eric Braverman, MISSING CEO of the Clinton foundation who blew the whistle on their looting of +$200 B from Libya and shipping Stinger missiles and sarin gas to ISIS in Syria.

Where is Eric Braverman??? Russian Ambassador murdered when he was about to take questions in Syria:
https://www.youtube.com/watch?v=xja4KYUa22A

Manthong's picture

Presser after Christmas market Islam mow-down….

“Diversity makes us richer rather than poorer”

-Murkul


F U, ugly old fat liberal twat
 

 

Pinto Currency's picture

questions on Syria, not questions in Syria.

jcaz's picture

Ahh, I always wondered who Million Dollar Bonus was in real life- thanks, Paul.....

MagicHandPuppet's picture

 

"To join Trump admin, you have to be white nationalist conspiracy theorist, but must also be always wrong re your supposed area of expertise."

Kruger simultaneously tries to fool everyone while throwing his hat in the ring for a spot in Trump's cabinet.

fleur de lis's picture

To join the NYT administration you have to be a Bolshevik parasite and central banker concubine.

Like Krugman.

 

Multi's picture

From line one you know you're reading the opinion of a retard:

"Financial markets seem to have decided that the Siberian candidate will pursue strongly expansionary macroeconomic policy."

"...Siberian candidate..."

Whatever.

Manthong's picture

..and that fat old twat is younger and weighs way more than I do

 

Geo-politics .. go figure.

 

Spigot's picture

He says "gold bug" like its a bad thing.

Count Ayjin de le Verage's picture

 

Krugman sez: "To join Trump admin, you have to be white nationalist conspiracy theorist,..."

 

Comment for Krugman? 

 

Trump is my President.

 

Oh, and 911 was an inside job.

 

 

Merry Christmas, ZeroHedge

 

Contagion

runningman18's picture

Krugman's career is dying and he knows it. 

nati's picture

Merkel is right. When she says "us" she means the low-life traitors in government who are facilitating the White Genocide agenda. They are being paid handsomely (in shekels) for destroying their countries.

Slomotrainwreck's picture

What's good for gold is good for America

nightwish's picture

Fuck this cuck for the establishment with a gold plated dildo up his butt. These J's have lost power, so they sling all manner of tripe at donnie. Desperate.

NotApplicable's picture

Neeraj Agrawal is my new hero!

rosiescenario's picture

....where is Taleb's response to Krugman's idiocy?

Manthong's picture

Oh.. goddam…  a I am  so conflicted

Amazon is so good  I want to have sex with all of them… but I hate management.

Chris Dakota's picture
Chris Dakota (not verified) Arnold Dec 20, 2016 4:58 PM

The endgame isn't gold, its barter.

He who does not work does not eat.

Krugman does not eat.

Draybin Deffercon III's picture
Draybin Deffercon III (not verified) Chris Dakota Dec 20, 2016 5:19 PM

Krugman is an idiot but so is everyone else for participating in this system. I just wasted a whole lunch break at an "Analog Dollar Bank". Every time I go there it's like a trip back into the 1900s. Rotary dial phones, rubber stamps, paper trails, listening to people from the stone age talk about their cats and dogs in line-ups. This is a total bottle-neck on productive society. And it's all they know how to do.

glenlloyd's picture

He's such a douchebag, really someone needs to pull his pants down in public. Depants Krugman in public...

nmewn's picture

Ever notice how Keynesian progs never have a response when you shove their face through their own mirror of hypocrisy & error, they just wimper and crawl away for a little while? 

Thats the one thing I like about progs ;-)

Zero-Hegemon's picture

Let me tell you a story about the "Broken Pants Theory"

Manthong's picture

What do you have against stepper relays?

... and rotary dial phones?

..the NSA could not possibly archive all of your communications if we were back in the '60's telecom.

Slomotrainwreck's picture

There's only 3 ways tpo obtain gold. Work, trade steal.

Archibald Buttle's picture

Customers at the bar told reporters the "shitfaced" and disruptive Bernanke refused to pay for his drinks with U.S. currency, claiming it was "worthless." Witnesses also confirmed that near the end of the evening, Bernanke put money into the jukebox and selected Dire Straits' "Money For Nothing" to play five times in a row.

"This is what it's all about," said Bernanke, who reportedly danced alone in the middle of the dark tavern. "Fucking love this song."

 

thanks for that link arnold. it may have been a little more funny this time around than the first way back when.

Not Goldman Sachs's picture

Berspankme is a real bankster, he wins no matter what happens.

Holy hand grenade of Antioch's picture
Holy hand grenade of Antioch (not verified) froze25 Dec 20, 2016 4:22 PM

Hey Krugman ~ If you take a lump of coal & squeeze hard enough, you get a diamond...

 

Sadly for you though, you're a limp wristed twat waffle.

Sofa King's picture

Twat...really does sum up his personality, doesn't it?

Holy hand grenade of Antioch's picture
Holy hand grenade of Antioch (not verified) Sofa King Dec 20, 2016 5:07 PM

At least fucking Gartman comes on and admits that he's wrong 99.9% of the time.

johngaltfla's picture

Better to hire goldbugs than a NYTimesTard like Thugman. That moron is the worst economist on the planet and that's saying something after watching the CNBS con artists claim we were not in a recession during 2008.

Holy hand grenade of Antioch's picture
Holy hand grenade of Antioch (not verified) johngaltfla Dec 20, 2016 6:08 PM

When you're a jew, you pretty much get to say anything you want and even if it's not true [ON PURPOSE], if you question it, you get the scarlet letter 'antisemite' sewn onto you... In 5...4...3...2... red arrows will appear out of nowhere on this comment, & why? (because it's TRUE, naturally)...

~~~

 

& Krugman, on this "To Join Trump Administration You Have To Be A White Nationalist, Conspiracy Theorist"...

 

Is that anything like me pointing out that to publish an OP/ED in the NYT, you have to be a "dual citizen"? Or is it different (as in, you only get away with what you're saying because you're a jew)...

 

Never One Roach's picture

I'm:

1) white;

2) deplorable;

3) an American citizen;

4) hard working;

5) a patriot;

6) college educated;

7) grad educated.

So phuck off Krugnam, you raycist Marxist

 

Deplorable's picture

I am also 7 for 7 on your list.

Son of Loki's picture

I'm 6/7 but almost finished with my grad degree so soon it will be 7/7.

Since several of my black buddies voted for Trump, they'll be quite surprised when I tell them they are really, "white nationalists"!

lol

Holy hand grenade of Antioch's picture
Holy hand grenade of Antioch (not verified) Son of Loki Dec 20, 2016 8:35 PM

I'm 6, but Viagra gets me to 7... Seeing threads with HRC or Yellen take me back to zero...