Krugman Says He Was ‘Wrong About Inflation,’ Summers Talks Recession, Biden C...
In mid-June red hot inflation reared its ugly head in America once again, as the latest U.S. Bureau of Labor Statistics’ Consumer Price Index (CPI) report indicated that inflation in June rose at the fastest pace in over 40 years. U.S. president Joe Biden has been in office for 18 months now, and media reports are beginning to note he was wrong about transitory inflation and his administration has made “dubious claims about inflation’s peak.” Meanwhile, the Biden administration and a few reports suggest there are “signs inflation may have peaked”....
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President Joe Biden and Treasury Secretary Janet Yellen say that a U.S. recession is not inevitable, dismissing the concerns of many economists who have predicted an upcoming recession. In addition, Biden insisted that the U.S. will “overcome this inflation” while Yellen admitted that “inflation is unacceptably high.”
Biden: U.S. Recession Isn’t Inevitable
President Joe Biden reiterated to reporters Monday in Rehoboth Beach, Delaware, that a U.S. recession is not “inevitable.”
Asking Biden about a potential recession, a....
In this video clip, Paul Krugman demonstrates once again that prizes don’t make you an expert on everything. Indeed, his poor prognostications happen so frequently that one wonders if Krugman is an expert on anything. I don’t say that to be unpleasant. If you’re going on TV and enjoying a lavish lifestyle by pretending to know what you’re talking about,....
Paul Krugman, the Nobel Prize winning economist who likes to explain things to we mortals via the New York Times, is a man some people love to hate, right along with the Times. But we're not about hatred here, we're about the science of Bitcoin, so we want to point out to the good Nobelist just how he got it wrong in his "Bits and Barbarism" op-ed piece of December 22 in the Newspaper of Record. Krugman is absolutely right about the barbarism of gold, past and present. For the vast majority of people, finding gold in your neighborhood is like the curse of oil; it benefits only the elites....
There are plenty of legitimate economic arguments against Bitcoin. A level of inequality that makes the U.S. look like a “workers’ paradise” is one. The possibility that mining will continue to become more centralized is another. And, while I don’t buy it myself, concerns over the protocol’s deflationary nature are justified if one believes that our collective understanding of economics and monetary policy will be at the same level in 2140 as it is today. So when I saw that Paul Krugman had written another piece attacking Bitcoin, I was surprised by his justification. With so much else to....
President Joe Biden stated Wednesday that the U.S. economy had zero percent inflation in July following the latest CPI report. “Biden is claiming that we saw zero percent inflation last month. But there’s a zero percent chance that’s the case. Inflation in July was 8.5%, which is still a 40-year high,” said a lawmaker. Biden’s Zero Inflation Comment and Responses On Wednesday, President Joe Biden publicly stated that the U.S. economy had 0% inflation in July after the latest consumer price index (CPI) report was released. “Before I begin today, I....