Trump vs Krugman
Apparently, the guy who bankrupted casinos has called economics Nobel Laureate Paul Krugman a “deranged bum.” LOL!
Trump is pissed at Krugman for criticizing Trump’s tariff policy and firing of the BLS person.
“Claiming that economic data you don’t like is fraud perpetrated by a deep state conspiracy has been standard practice on the right for a long time, going back to the ‘inflation truthers’ of the Obama years,” Krugman wrote.”
Trump says somebody should sue Krugman and other Trump critics.
“Trump didn’t specify exactly what about Krugman, an economist at the City University of New York, set him off, probably because there are plenty of recent possibilities to pick from.”
If you’re going to attack a Nobel Laureate, you need arguments, not rage-tweeting. Trump thinks he’s a candidate for the Nobel Peace Prize. Attacking others with epithets is not the path to the peace prize.
Deranged Trump rage-tweets at Nobel Laureate
Trump is pissed at Krugman for criticizing Trump’s tariff policy and firing of the BLS person.
“Claiming that economic data you don’t like is fraud perpetrated by a deep state conspiracy has been standard practice on the right for a long time, going back to the ‘inflation truthers’ of the Obama years,” Krugman wrote.”
Trump says somebody should sue Krugman and other Trump critics.
“Trump didn’t specify exactly what about Krugman, an economist at the City University of New York, set him off, probably because there are plenty of recent possibilities to pick from.”
If you’re going to attack a Nobel Laureate, you need arguments, not rage-tweeting. Trump thinks he’s a candidate for the Nobel Peace Prize. Attacking others with epithets is not the path to the peace prize.
Deranged Trump rage-tweets at Nobel Laureate
I subscribe to Paul Krugman’s substack. Here is a partial of what Economist Paul Krugman had to say on August 5th.
“The Paranoid Style in American Economic”
“Most economists found this report entirely credible. The BLS has a sterling reputation for careful, objective analysis, and as I said, Friday’s report brought the official estimates into line with other evidence. What about those revisions? As Jared Berstein explained in a Substack post yesterday, revisions are normal. Without getting too deep into the weeds, the BLS wants to be timely, so it issues preliminary reports based on incomplete data, then routinely revises them as more data come in. Revisions tend to be especially large around turning points; what we saw Friday is exactly what we’d expect if the economy is in fact experiencing a significant slowdown, which would show up more strongly in revised data than in the initial reports.
But Donald Trump screamed ‘conspiracy’ and fired the head of the BLS, because of course he did”:
“I don’t want to spend much time debunking Trump’s claim that there was a conspiracy to make the job numbers look bad. Suffice it to say that rigging the job numbers would be a complicated process, requiring the cooperation of many people, and we’d almost surely have whistleblowers telling us that it was happening. In fact, we will know that it’s happening when, as seems highly likely, Trump’s people politicize the BLS.”