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Agree. It had an unusually clear explanation of how different types of bubbles are tied to Fed policies. Pointing out the effect of shifting of assets from poor
by hodgesrm 5y ago
Agree. It had an unusually clear explanation of how different types of bubbles are tied to Fed policies. Pointing out the effect of shifting of assets from poorer to richer segments of society was another interesting point in the article.
Hoenig's arguments are quite different from the "deficits don't matter" spiel of Krugman and others. Krugman's argument that we don't see ill effects of current policies could be just as much a failure of imagination as lack of data.
- uejfiweun 5y agoKrugman is nothing but an idiotic hack. He has been so consistently out of touch and wrong about everything that I almost consider him to be malicious. He just blatantly is a spinster for the democratic party, but hides behind his pedigree and pretends like his opinion is obviously correct. It's that classic snooty elitism, the grandstanding, the self-righteousness - the same things that alienate moderates from the democratic party.
- JamesBarney 5y agoI get that Krugman can be shrill. But no one who wins a nobel prize in economics is an idiot.
- hodgesrm 5y agoAgree. Krugman is really good on pure economic questions like trade theory. Unfortunately he is a lot less trustworthy on issues where economics and current politics intersect, e.g., NYT opinion pieces. I read those with a fair degree of skepticism though he has produced a few that were economic gems.
- salawat 5y agoNever underestimate the career trajectory of a well connected idiot in a soft science with a reproducibility problems.
- ahartmetz 5y agoThere is no actual nobel prize in economics, so there is that.
- JamesBarney 5y agoYes there is. It's not an original, but it's basically the same thing. https://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Economic_Sciences https://en.wikipedia.org/wiki/Nobel_Memorial_Prize_in_Econom...