I laughed so hard after reading the “The Bernanke-Krugman Smackdown” (below Read More) that I had to pass it on as Required Reading. The funny significance on top of all Mike’s humor is that is all true. Expertly written with a sharp satirical wit will have you wondering why more haven’t stepped forward before now and voiced their opinions like this.
Mr. Shedlock points out that “Bernanke Calls Krugman “Reckless”; Krugman and Bernanke Both in Academic Wonderland Somewhere Deep in Outer Space”. He goes on to say, “Paul Krugman is now so far into outer space with ridiculous economic proposals that even Helicopter Ben Bernanke recognizes Krugman’s proposals as “reckless”.”
This extremely well written, but factual, hoot continues with statements like, “The irony in this bickering is that both Krugman and Bernanke are economic failures.” He attributes Dr. Ben’s musings with, “Perhaps his mind was altered by gamma rays from being in “deep academic space” for so long.” and “. . . Both come from academic wonderland, well beyond the orbit of Pluto.”
I wonder how Mike really feels? If it means anything, I’m with you “Mish”.
The Bernanke-Krugman Smackdown By Mike “Mish” Shedlock
“Clearly neither Krugman nor Bernanke have any solid grasp of the concept of debt-deflation. Neither understands boomer demographics. Neither understands why businesses are not hiring. Neither understands that debt eventually has to be dealt with, and it is the debt itself is the problem. Neither understands that inflation will destroy those without a job. Neither understands that increased inflation will not guarantee more jobs.
. . . Krugman is totally clueless about the damage that public unions cause. We could get far more roads and bridges repaired, employing far more people for the same price, while alleviating budget constraints at the same time if only we could get rid of Davis-Bacon and prevailing wage laws and end collective bargaining of public unions.” (READ THE ARTICLE HERE)
I can hear the ‘Sheeples’ now scratching the mindless cavern of a skull, saying “Huh, I don’t understand?”
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Written by Gary