Krugman Boasts He's Never Been Wrong

I'm no economics expert.  I'm far, far from it in fact.  But even I know the basics.  Supply and demand, no raising taxes during a recession, etc.  But for the economic world to listen to the smug liberal "professor" Paul Krugman who despite having been given a Pulitzer Prize for Economics and claims to be a fan of the free market-while heavily advocating Keynesian economics that have failed throughout history time and time again-is a sure fire way to follow in the footsteps of past economic collapses like ancient Rome and modern-day Greece.  To that point, this You Tube clip pitting Ron Paul against Krugman is a pretty good indicator that the arrogant Krugman isn't what people on the left think he is. 


Now, I'm split on the potential of Ron Paul as president.  I think he has a very good grasp on what it takes to stimulate and grow the economy (again, I have no expertise one way or the other, but listening to men like Milton Freedman and Thomas Sowell easily shoot down Krugman's assertions time and time again-and have history back up their arguments, seems to be a pretty positive indicator that Krugman has gained his respect and notoriety under false pretenses.  And logic and history also dictates that Krugman, not only thinks very highly of himself, given this blog post from Monday but is also very wrong even about what he thinks of himself.  Given that he has been absolutely destroyed in more than one economic debate-either in live face-to-face ones or in contradicting books and/or essays-and even by readers in the comments section of his own New York Times column says a lot)

There's also this, a comment on the NewsBusters site by a reader with the screeen name of "CobraMan" that also rings true: 
"I think I can say without false modesty, a huge win; I (and those of like mind) have been right about everything."
Well, Paul, you're wrong about that. Austerity was our country's guiding principle for the first 150 years of our existence, and it didn't seem to cause a lot of problems, nationally. For 150 years, this country experienced nearly continuous economic growth. Sure, there were local disruptions of the economy for time to time, but they stayed local, and were short-lived. Nationally, the economy kept expanding. It was only when we dropped that principle back in the early 30's that we began to experience national economic upheaval, and we've been experiencing them in higher and higher frequencies. The more we abandon Austerity, the faster our economy collapses, and the longer those collapses remain. And this is true of every single country that has ever done this, throughout the history of mankind. From the Egyptians to the Romans, from Kingdoms to Communes, the results are always the same. The faster a government abandons Austerity, the fast their economy collapses. Care to explain that?
Look at it this way, Paul. The Great Depression didn't occur in spite of our government abandoning Austerity a few years before. It happened because of it."

Krugman is shown the error of his ways yet again by Better Capital LLP Chairman, Jon Moulton, but typically refuses to acknowledge his faulty logic or even concede anything by Moulton who is obviously in a position to know know better.


But as for Paul, I worry about his knowledge or commitment to foreign policy.  His advocating for true, open-market capitalism, liberty and freedom from big, invasive government is nothing short of inspiring.  With that said about his stance on foreign policy, he may make a very good Secretary of the Treasury, but I doubt he will ever be president. 

Krugman on the other hand?  I doubt he will ever be right about hardly anything.  Especially when insulting the peoples of other, European nations.