Krugman: Not Enough Inflation

The New York Times:

A few days ago, Alan Greenspan, the former chairman of the Federal Reserve, spoke out in defense of his successor. Attacks on Ben Bernanke by Republicans, he told The Financial Times, are "wholly inappropriate and destructive." He's right about that -- which makes this one of the very few things the ex-maestro has gotten right in the past few years.

Read the whole story at The New York Times

Comments

[PhilipTaylor]

06:33 PM on 04/06/2012

Think of the B00M A JUB1LEE DEBT REDUCTION FOR THE 99% would PR0DUCE!

$16 to $30 TR1LLION in BAILOUTS to FRAUDULENT BANKSTERS (JPM for one) from FED according to RECENT FED AUDIT!
 
$12 TRILLION USED to payoff every mortgage, credit card, and Student Loan in America and still have $5 to $19 TRILLION leftover!

NOTE: Mortgage Bankster Association “Walked Away” from HQ - $79 MILLION BUILDING and MORTGAGE - IT IS OK IF BANKSTER WALK AWAY FROM DEBTS!

Bank of International Settlements shows the BANKSTERS ACTUALLY DID another almost  $100 TRILLION IN T0X1C FRAUD in the last SIX MONTHS of 2011 for a total of $708 TRILLION!  - MAKING EVEN $BIGGER BANKSTER GAMBLING INSOLVENCY ALL HIDDEN OFF THE BANKSTERS BOOKS - ENR0N-STYLE!
 
AND ONLY THE FRAUDSTERS HAVE PROSPERED WITH MASSIVE FAKED FRAUD INCOMES AND BONUSES FUNDED BY US TAXPAYERS!
 
PAYING OFF THE HOMEOWNERS DEBTS WOULD HAVE STARTED A BRAND NEW ECONOMIC B00M - NOW FUNDING CRIMINALS WE ARE STILL IN THE MESS!


IT IS TIME FOR THE PEOPLE IN  UNITY TO STOP PAYING THESE CRIMINALS AND BRING THEM TO THE TABLE FOR SOME SERIOUS JUBILEE!

[PhilipTaylor]

06:34 PM on 04/06/2012

http://www.fedupusa.org/2011/07/fed-audit-reveals-16-trillion-in-secret-loans-to-bailout-foreign-banks/

[lreyla]

05:47 PM on 04/08/2012

Numbers homeowners and advocates have been pointing out since 2010 w/ Sen Sanders' law first report. Time to make every politician answer how this could be.

[PhilipTaylor]

06:18 PM on 04/06/2012

KRUGMAN cannot defend his ideas and MODELS to Professor Steve Keen!


Keen is RIGHT KRUGMAN'S MODELS ARE AS WRONG AS THE EARTH IS THE CENTER OF THE UNIVERSE THEORY!

KRUGMAN RUNS AWAY MUMBLING!

[PhilipTaylor]

06:28 PM on 04/06/2012

To see Excellent VIDEO - G00GLE:  "capital-account/krugman-neoclassical-steve-keen"

[PhilipTaylor]

06:34 PM on 04/06/2012

http://rt.com/programs/capital-account/krugman-neoclassical-steve-keen/

[PhilipTaylor]

06:15 PM on 04/06/2012

KRUGMAN IS PROTECTING THE CRIMINAL BANKSTERS!


He is "ONE WiTH THEM!"

[PhilipTaylor]

06:13 PM on 04/06/2012

NATIONALIZE AND CLEAN OUT THE CANCER CAUSING DUST IN THE 12 FED BRANCHES!

[PhilipTaylor]

06:12 PM on 04/06/2012

KRUGMAN HAS BEEN PROVEN ABSOLUTELY WRONG ABOUT ALMOST EVERYTHING!

[PhilipTaylor]

06:49 PM on 04/06/2012

"... a serious depression seems improbable; [we expect] recovery of business next spring, with further improvement in the fall." 

 
 -- Harvard Economic Society, November 10, 1929 
 

"The end of the decline of the Stock Market will probably not be long, only a few more days at most." 

 
 -- Irving Fisher, Professor of Economics at Yale University, November 14, 1929 
 

[CaptRuby]

02:12 PM on 04/06/2012

Krugman is right, in past 4 years or so inflation has been very tame.

get out of US and look around in the world, inflation has been around 10%, its < 3% here in the US.

[gitrdone]

02:13 PM on 04/06/2012

They are confusing inflation with the speculation going on in the commodities market. So much misinformation out there, thanks to the internet.

[PhilipTaylor]

06:47 PM on 04/06/2012

"...despite its severity, we believe that the slump in stock prices will prove an intermediate movement and not the precursor of a business depression such as would entail prolonged further liquidation..." 

 
 -- Harvard Economic Society (HES), November 2, 1929 

[Ralph Perman]

01:52 PM on 04/06/2012

That's one Really Misleading Headline!
Read the whole article before making comments, only then will the headline make sense.

[Thomas Marsden]

01:44 PM on 04/06/2012

Dear Federal Government,

Revoke the Fed's charter and start issuing currency directly, which is your legal right under the constitution. The fact that a private banking cartel loans you your nation's currency at interest is criminal and beyond ridiculous.

Sincerely,

Andrew Jackson (attempted assassination)
Abraham Lincoln (assassinated)
James Garfield (assassinated)
John F. Kennedy (assassinated)

[JustMoreOfTheSame]

01:27 PM on 04/06/2012

FED = C.RIMINAL ORGANIZATION

[Thomas Marsden]

01:33 PM on 04/06/2012

It's the crime of the century that nobody talks about.

F&F

[PhilipTaylor]

06:14 PM on 04/06/2012

F & F both of you!

[radrink]

01:22 PM on 04/06/2012

does mr krugman buy his own food?

[Kerry keane]

01:19 PM on 04/06/2012

Trillions of "Hot" money had been poured into the Economy by the Fed, through it's Open Market Activities, Discount Window and QE programs - And it has really (aside from QE 1) done very little to helps us - in fact with QE2 it actually start hurt us by causing massive commodity inflation - (Gold, Wheat, Corn, Gas etc) which disproportionately hurts lower income people ...

Paul wants to ignore the fact the all major economies are debasing their currencies as well - EU, Japan et al Ergo further dollar debasement will no effect at a time when all paper currencies in a "race to the bottom" …

Thank Jeebus no serious economists listen to him anymore …

[LeanLeftAmerica]

01:28 PM on 04/06/2012

Our economy completely tanked 3 years ago -

- That means just about ALL the "economists" and financial "experts" out there running this country into the ground "also" didn't have a clue

Can you point to ANY one economist even making a rational argument or providing policy suggestions?

Other than the "lower laxes, deregulation and smaller government" mantra?
- we need more than sound bites

[radrink]

01:39 PM on 04/06/2012

try researching the greater depression of 1920/21

and see what they did to get the economy back on track in 18 months

[lreyla]

05:54 PM on 04/08/2012

Actually at least 3 on Charlie Rose around the tea part deficit madness in '10 I believe said if Washington and Wall St quit playing games it could use common sense to put the unemployed to work and create demand which yes means govt spending. Voila!

[gitrdone]

02:07 PM on 04/06/2012

Actually inflation is pretty tame in general, but what is really driving the skyrocketing prices of commodities was investors jumping from the crashing real-estate market to commodities.

[Kerry keane]

02:22 PM on 04/06/2012

The inflation rate most reported ex's out food and fuel ... (were the inflation is obviously very high), also Commodites are priced in dollars, as the dollar weakens they go up - while some people have been moving monies into say, Gold, Oil is really only for professional traders,and you can't say people are take monies earmarked for RE and buying wheat futures ...

[poppyCa]

01:14 PM on 04/06/2012

Been to the supermarket lately Krugman? Fool.

[LeanLeftAmerica]

12:55 PM on 04/06/2012

I have a great deal of respect for Krugman -

- But he misses a vital point

"real debt" does in fact decrease as inflation goes up
- But this is only valuable to the consumer if wages also rise with inflation

They do not have to match inflation, but they must rise. It would be interesting to see how base wages compare historically to inflation in general

[gitrdone]

02:09 PM on 04/06/2012

Which is why it's very important for employment to go up, so we can see a rise in wages.

[Linda from Deerfield]

08:10 PM on 04/06/2012

There is a lot of wage data that is corrected for inflation -- it is called "real wages". The correction is usually with respect to stated inflation, though, not the more volatile headline or total inflation. I am just an interested amateur, but when I saw that real wages for 95% of earners were declining, starting around the year 2000, I got very nervous about skyrocketing housing costs, and it turned out to be a good predictor of economic trouble.

[MThomasNC]

12:53 PM on 04/06/2012

This new raise of 'Dixiecrat' conservatives have a war with everybody and all issues except ALEC written legislation being passed thru most of the states assemblies. Even those presented in congress are not getting as much play as they should, and that's why they're sitting on the senate's floor.

GOP has been screaming 'inflation' since 2009 right after the stimulus package law was signed. Something definitely is going on with them, and especially with their current resentment of Bernanke. A republican has been leading the Feds since the 1970s, so one can say GOP is more responsible for the blight on the economy than anyone else.

I remember Alan Greenspan. He was treated as a God, and everyone heeded his remarks. He said debts don't matter, he kept interest rates to zero after 9/11, and Bernanke followed suit - he made no changes.

[radrink]

01:19 PM on 04/06/2012

it seems the gop was correct?

don't you agree

[fuzzychickens]

12:52 PM on 04/06/2012

The Fed deserves EVERY bit of criticism it receives.

And I'm not a conservative either.