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They hate Krugman because he keeps being right

No greater sin, if all you care about is who wears what jersey. Nancy Kruh of the Dallas Morning News on "Why I'm not taking a bath in the market":

The only economic expert I follow religiously is New York Times columnist Paul Krugman, and he is the sole reason I did something back in March 2008 that millions of people now wish they had done. I yanked every last penny I had invested out of the stock market.

For several months afterward, the market kept perking along, and I fretted that I'd made a huge mistake – the Fidelity adviser I discussed it with certainly thought so. These days, though, I'm careful to contain my glee around all of my friends and family members whose investments have tanked.

Of course, as we all know, Krugman single-handed-ly burst the bubble because he hates Obama. And besides, he only won the Nobel for theories on international trade, so what would he know about finance? And Krugman's son worked for She Who Cannot be Named. Betcha didn't know that, nyaah-nyaah-nyaah.

There are times when I think that the bigger fool theory is not confined to the stock market...

NOTE Not to put Krugman on the level of a stock tout. But the guy has a vision )model) of our political economy, and so far it's proved out pretty well.

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Damon's picture
Submitted by Damon on

Not to distract, too much, but this is my favorite snarky comment on that particular Krugman blog you have up:

BUT ! If you had a son would he work for Hillary?

That is so something some party like HuffPo (the political doppleganger of TMZ) would actually ask.

pie's picture
Submitted by pie on

working for her?

Too funny. It is enjoyable to read the outraged blatherings of Obama supporters who are convinced that Krugman can't possibly be right. Atrios is also getting swiped at daily. One thing to remember is that there is no joy in their dissent. They wish they could be wrong. Very disappointing and frustrating actions by the Obama administration.

Andre's picture
Submitted by Andre on

has anybody in the administration asked Professor Krugman's opinion before the fact, on any of these programs, each of which is so definitely going to clean up the freaking mess? He is a expert on international financial crisis. Duh! And he's on our side for crissakes!

Submitted by jawbone on

and members are not happy about his ideas or his voicing of them.

Krugman himself said he's called to talk to people on Team Obama and they don't want to talk to him about this. (I think I commented on this when Krugman wrote that as an aside, but I can't find it right now.)

Krugman has reaached out and been rejected. His ideas are not acceptable and not part of their game plan. They want a Restoration of Big Banksters as Masters of the Universe. Big Banksters want that so they can continue with their Merry Bankster Pranks and add to their humongous wealth. They have courtiers in power who believe they should be able to do so. and are doing everything possible to enable their Restoration and bubble-naking.

We are so fleeced.

Or, as Stiglitz puts it , the public is so robbed.