{"id":27017,"date":"2017-10-19T10:54:01","date_gmt":"2017-10-19T15:54:01","guid":{"rendered":"http:\/\/olduvai.ca\/?p=27017"},"modified":"2017-10-19T10:54:01","modified_gmt":"2017-10-19T15:54:01","slug":"krugman-and-the-heroic-fed","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=27017","title":{"rendered":"Krugman and the “Heroic” Fed"},"content":{"rendered":"

Krugman and the “Heroic” Fed<\/a><\/h3>\n

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Once an avid reader of Paul Krugman\u2019s New York Times<\/em> twice-weekly columns, I admit to rarely even glancing at his work now, since I know that anything he writes is going to have the theme of \u201cTrump evil, Democrats good\u201d each time, and it doesn\u2019t take long to get one\u2019s fill of that, even if one disagrees with Donald Trump\u2019s policies or cringes at some of his public statements. The real problem, however, is that Krugman also manages to endorse unsound and inflationary economic policies as a \u201csolution\u201d to what he calls \u201cTrumpism.\u201d<\/p>\n

If one reads Krugman to see what \u201cvulgar\u201d Keynesian fallacies he is promoting, the man rarely disappoints, and a recent column in which he attacks<\/a> what he believes will be Trump\u2019s future choice to head the Federal Reserve System only burnishes Krugman\u2019s Keynesian credentials. After claiming that Trump has been like a \u201cCategory 5 hurricane sweeping through the U.S. government, leaving devastation in his wake,\u201d Krugman then worries if the Fed will suffer the same fate. One only could hope\u2026.<\/p>\n

Before looking at Krugman\u2019s worshipful commentary on the current Fed leadership, a brief point is in order regarding the rest of official Washington that Trump allegedly has devastated. People like Krugman believe that Washington and its gaggle of Alphabet-Soup agencies regulating nearly every aspect of individual lives is the very source of social stability and economic prosperity in this country \u2013 provided there are little or no restraints on what government agents can do. As Krugman and his fellow progressives see it, we need more, not less, bureaucratic control of our lives, and especially control by people of progressive bent with \u201celite\u201d academic credentials, since they are smarter than the rest of us, so they should be able to tell us what to do.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Krugman and the “Heroic” Fed Once an avid reader of Paul Krugman\u2019s New York Times twice-weekly columns, I admit to rarely even glancing at his work now, since I know that anything he writes is going to have the theme of \u201cTrump evil, Democrats good\u201d each time, and it doesn\u2019t take long to get one\u2019s […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[61,68,124,303,2127,16584,7617,536,1921,614,3650,16585],"class_list":["post-27017","post","type-post","status-publish","format-standard","hentry","category-economics","tag-banking","tag-ben-bernanke","tag-central-banks","tag-fed","tag-interventionism","tag-janetl-yellen","tag-mises-institute","tag-money","tag-new-york-times","tag-paul-krugman","tag-us-federal-reserve","tag-william-l-anderson"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27017"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27017\/revisions"}],"predecessor-version":[{"id":27018,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/27017\/revisions\/27018"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}