As things seem to be falling into chaos around the world, there are a few things we can count on.
Joe Biden will tell a story that isn’t true, and Paul Krugman will be wrong.
We’ve covered some of Krugman’s highlights (or perhaps we should say lowlights) in the past. Last month, he even tried to shovel some malarkey about “how quickly and how painless the inflation has come down.” Um, it’s been ongoing since 2021 and has cost Americans hundreds more each month; how is that painless? Plus, the rising interest rates in response are also hitting Americans hard.
But this new remark from Krugman is definitely a candidate for the Krugman Best of the Worst list.
As Biden’s team pushes ridiculous praises of “Bidenomics,” Krugman seemed to be running some hilarious cover for the big problem with Biden’s claims — Bidenflation.
The war on inflation is over. We won, at very little cost pic.twitter.com/opumf3nEvL
— Paul Krugman (@paulkrugman) October 12, 2023
Now, this is pretty funny if you check his subheading.
He’s arguing inflation is over — if you discount everything that matters, like food, energy, and shelter. How ridiculous an assertion is that? How can you take such a person seriously?
As you can see, Community Notes wasn’t having any of that, calling the omission of the critical categories “misleading.”
Then, too, did you notice it was over? I didn’t. Nor did media that reported consumer prices rose in September, more than expected. We’re all still getting killed by the high prices. “At very little cost”? You can tell he has no idea about the trials of the American people having to struggle with the higher prices over the past two years.
Prices that consumers pay for a wide variety of goods and services increased at a slightly faster-than-expected pace in September, keeping inflation in the spotlight for policymakers.
The consumer price index, a closely followed inflation gauge, increased 0.4% on the month and 3.7% from a year ago, according to a Labor Department report Thursday. That compared with respective Dow Jones estimates of 0.3% and 3.6%. Headline inflation increased 0.6% in August.
Even though it has reduced from the high point under Biden, it’s still higher than it was when Biden came into office. Moreover, I’m not sure who he’s considering fought the “war on inflation” since Biden drove it up with excessive government spending.
It’s a good thing nobody needs food, energy, shelter, or transportation. https://t.co/nB286JYTx4
— Ted Cruz (@tedcruz) October 13, 2023
It's been such a shitty week so thank you for the laugh. Guys, if you exclude food, energy, shelter or used cars, we're doing super great! https://t.co/iikrCyRq5S
— Karol Markowicz (@karol) October 12, 2023
If you carry the one, add eleventy billion and destroy this entire chart, the data shows we’re doing amazing!
— Kira (@RealKiraDavis) October 12, 2023
"The price of sunblock, miniature golf admissions, tinted contact lenses and cellphone cases have all stabilized — INFLATION IS OVER! (just do not go grocery shopping)"
— Brad Slager – Scrubbing Down In a Bloodbath (@MartiniShark) October 12, 2023
— Krugman https://t.co/r5SYmyzXqW
We beat Krugman to this joke by 2 years https://t.co/74ExW2oXD5 pic.twitter.com/13fvSryFcf
— Kyle Mann (@The_Kyle_Mann) October 12, 2023
You always have the best analysis. pic.twitter.com/eLIB9t6cjn
— Brian Nichols (@BNicholsLiberty) October 12, 2023
You always have the best analysis. pic.twitter.com/eLIB9t6cjn
— Brian Nichols (@BNicholsLiberty) October 12, 2023
“Economist…” – HAHAHAHAHA!