tag:blogger.com,1999:blog-7464708.post4060949169027142625..comments2024-03-22T06:05:36.544-04:00Comments on Kids Prefer Cheese: P-Krug: Neither Liar nor QuackMungowitzhttp://www.blogger.com/profile/02340064320347875601noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7464708.post-81036711495736894562010-06-27T21:49:50.959-04:002010-06-27T21:49:50.959-04:00This link is glorious. What has become of Krugman?...This link is glorious. What has become of Krugman? He’s lost his mind and his ethics. What a shame. Maybe his economics will return with the next GOP president.John Papolahttp://butwhatthehelldoiknow.comnoreply@blogger.comtag:blogger.com,1999:blog-7464708.post-41998974713849839922010-06-26T10:24:03.212-04:002010-06-26T10:24:03.212-04:00Deficits during expansion/inflation are not the sa...Deficits during expansion/inflation are not the same as deficits during contraction/deflation.<br /><br />What was not quoted from PK's Mar 2003 link:<br /><br />---<br />But unless we slide into Japanese-style deflation, there are much higher interest rates in our future. <br />---<br /><br />---<br />And the people who read him, and quote him, ARE dumb.<br />---<br /><br />Especially those who selectively edit his quotes.eightnine2718281828mu56noreply@blogger.comtag:blogger.com,1999:blog-7464708.post-68378972714194061992010-06-25T21:52:18.563-04:002010-06-25T21:52:18.563-04:00I'm a loyal KPC reader and I hope I'm not ...I'm a loyal KPC reader and I hope I'm not dumb - I like to quote Krugman's Clinton-Era essays, such as the following gem:<br /><br />"... Imports, not exports, are the purpose of trade. That is, what a country gains from trade is the ability to import things it wants. Exports are not an objective in and of themselves: the need to export is a burden that a country must bear because its import suppliers are crass enough to demand payment."<br /><br />Mind adding a clause for Krugman hipsters like me - we only like his old stuff.Michaelhttps://www.blogger.com/profile/00427964335321253510noreply@blogger.comtag:blogger.com,1999:blog-7464708.post-19092996851659976912010-06-25T15:08:21.994-04:002010-06-25T15:08:21.994-04:00My personal favorite, via "The Accidental The...My personal favorite, via "The Accidental Theorist":<br /><br />"It is possible for economies to suffer from an overall inadequacy of demand--recessions do happen. However, such slumps are essentially monetary--they come about because people try in the aggregate to hold more cash than there actually is in circulation. (That insight is the essence of Keynesian economics.) And they can usually be cured by issuing more money--full stop, end of story. An overall excess of production capacity (compared to what?) has nothing at all to do with it."Davidnoreply@blogger.com