By Tank Murdoch
(TNS) Quick — which ‘leading economist’ has more politically-motivated, politically-awarded Pulitzer Prizes for being consistently wrong about economics? If you answered Paul Krugman, get yourself something nice.
New York Times columnist Krugman, the Distinguished Professor of Economics at the Graduate Center of the City University of New York and graduate of MIT, Yale, and the Kennedy School of Economics, has been wrong more times about how the economy is going to perform and which direction it will take not because he’s a dumb guy, but because he has a bad habit of allowing his Left-wing political ideology and uncontrollable hatred for Republicans cloud his judgement.
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As the National Review’s David Harsanyi noted in a November column, Krugman’s never correct and never “in doubt” about it:
One of the nationâ€™s leading doomsayers has been theÂ New York Timesâ€™ perpetually mistaken Paul Krugman, who warned shortly after the 2016 election that Trumpâ€™s victory would trigger aÂ global recessionÂ â€œwith no end in sight.â€ We could file that under â€œpost-election hysteria,â€ but as late as April of this year he was still telling crowds that the bond-market signals predicted â€œa pretty good chance of a recession sometime in the next year or so.â€ And he has kept this going all year:
February 11: Paul Krugman expects a global recession this year, warns â€œwe donâ€™t have an effective response.â€
August 1: â€œWhy Was Trumponomics a Flop?â€
August 15: â€œFrom Trump Boom to Trump Gloomâ€
September 5: â€œTrumpism Is Bad for Businessâ€
October 3: â€œHere Comes the Trump Slumpâ€
October 24: â€œThe Day the Trump Boom Diedâ€
A couple of weeks after the Trump Boom expired, CNBCÂ reportedÂ that â€œOctober job creation comes in at 128,000, easily topping estimates even with GM auto strike.â€ This cycle has been going on for three years.
Harsanyi noted further that Krugman would go on to excuse his chronically wrong predictions “by claiming that the economyâ€™s successes are really just driven by instances of his own political preferences playing out.” Sure thing.
Anyway, the one person who really sets Krugman off is President Donald Trump. And why? The answer seems obvious to anyone who is not afflicted with Trump Derangement Syndrome:Â Trump is a much better economist that the Ivy League-educated and ‘esteemed’ Krugman.
Because the non-Ivy League-educated president repeatedly demonstrates his superior command of basic economic principles, as evidenced by his massively successful progress on reviving Obama’s moribund economy, Krugman and other Left-wing ‘economists’ like him are perpetually triggered.
And being triggered does not make for good, sound economic judgement, which is why Krugman is so chronically wrong.
But he’s more than just wrong, he’s also bitter. So it makes perfect sense why he would delight in this week’s coronavirus-driven drop on Wall Street, which lost some 12.4 percent of its value and more than $1 trillion in wealth — most of it once held by average Americans trying to build a 401(k) retirement.
— Paul Krugman (@paulkrugman) February 28, 2020
Blue-checks on Twitter let this loser have it, and it was well-deserved. It’s also noteworthy to point out that the market jitters came from unknowns regarding product supply chains disrupted by coronavirus in China, where millions of workers have been idled by the outbreak (that’s now under control there, by the way).
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Not from Donald Trump’s policies.
What kind of person do you have to be to get your jollies off of other people’s misfortune? Answer: A Paul Krugman kind of person.
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