He’s not out of touch. Can’t be.
“inflation has been falling fast”
Inflation is cumulative. Having lower inflation doesn’t change the fact that the prices are generally up ~20% over the last few years.
Also the consumer price metric I saw excluded basic foods, clothing, and housing or something like that. Great that the poors can afford Ivory backscratchers while they’re being evicted.
I wonder why consumer sentiment is low. Could it be that the continuous inflation eroded purchasing power without any real increase in wages?
What about the RENT, Paul?! What about HEALTHCARE, Paul!? What about EDUCATION, Paul!?
I don’t care how little a new fucking TV costs!
We reach arbitrary number, therefore number good. God I wish my job was as easy as an economicist.
MICHAEL HUDSON: It’s not a straw man argument; it’s deliberate ignorance. You have to really have tunnel vision and not understand the most basic economic history to make the misrepresentations that Krugman said.
And if I hadn’t met him, and I didn’t know how really stupid he is as a person, I would think he’s deliberately lying, but I have met him and he really is that stupid.
I know you have to live in your car but you’re employed and the line is going up so honestly I don’t understand why you’re complaining
Capitalist economics are ideologically driven pseudo-science, more and more people are saying this.
He’ll never fucking stop.
“Consumer prices didn’t rise at all.” This is the same asshole that said there was no inflation if you didn’t count rent, gas, and food.
Do any of these guys ever admit that unemployment is down because so many people are stringing together multiple jobs to try to make rent?
It also doesn’t count people who’ve given up looking for work. Double whammy
Yep, pretty much all western countries do this. When you look into the statistics, the requirements to be counted as ‘unemployed’ are always unexpectedly stringent, and the real figure is typically anywhere between 2x-10x higher than reported.
If you’re in the UK and not employed but actively seeking employment, if you want to count towards the ‘unemployed’ figure, you typically need to be housing yourself, you must be looking for a minimum of ~20 hours a week of work, you can’t be casually employed (even if you work an average of ~0 hours a week), you can’t have been unemployed for less than one month nor for over 6 months, you can’t have most recently been a student, you can’t be volunteering, you can’t be minding children regularly, the list goes on.
If you want the accurate number of “people who are actively looking for meaningful employment because they need money”, you’re out of luck.
