Paul Krugman makes great smoke and mirror show with flashy graphs



By Conservative Generation for Left Coast Rebel

I found out all about it at Memeorandum and he's at it again, Mr. Krugman that is, laying out all those graphs we economists love to look at so much. Although, I only award him a five out of ten since none of the graphs intersect (a little economist humor…sorry). Yes, the libtards ought to be satisfied with this little smoke and mirror show except…

1. Duplicitous, Krugman would have you believe by his graphs that only the 2004 and 2005 loans securitized by the private sector failed. That's right! Pay no attention to the massive government gap for the ten year's prior nor that crazy climbing line from 2006-2008 after Democrats took office right before the collapse. Hmm, now who was in charge in 2006 during that GSE spike *cough Barney Frank cough*. Which begs the question…
2. If Mr. Krugman's graphs were in any way, actually related, then why were Democrats encouraging GSE's, in the three years leading to the collapse? To securitize loans like Obama looking for a golf game in the middle of a crisis is pretty negligent, right Kruggy?
3. If government restrictions influence lender behavior, like you argue in favor of Obama's financial reform, it's pretty silly to argue that loosening the restrictions as CRA did in 1977 had no effect on encouraging risky loans.
4. If Fanny and Fredie had nothing to do with the mortgage crisis, why did they fail and need to be bailed out?
5. Why is Krugman throwing Tim Geithner under the bus?
6. Oops! Did Krugman just say that the subprime mortgage boom was "overwhelmingly driven by loan originators" and not banks? Then why aren't we reforming loan brokers instead of banks?
7. Why doesn't Ezra Klein think for himself? Could it be that the left is only too enamored the titles of their elites that they have no critical thinking skills themselves? What would Klein do without a Krugman to tell him what to say?

Once again, Krugman proves as only he can, that so long as you have a Nobel Prize you can write anything, regardless of its intellectual merit and be published, read and linked to by the left.

UPDATED: LCR adds his two cents to C-Gen's brilliance:

C-Gen - I think you have it nailed here! When I read and (unfortunately have to) dissect Krugman's drivel I typically and nearly instantly hearken back to his alter-ego with no indpendent ego - Ezra Klein. The lack of critical thinking between these two actually suggests that perhaps something more is amiss.

In fact knowing that they are much smarter than one would gather through their tortured platitudes, it's almost as if I come away thinking that someone pulls their strings.

Or is it that someone (ie. robotic conformity) pulls the strings of the 'elite' leftist?

4 comments:

  1. So if you can't dazzle em with brilliance, baffle em with BS... As I began reading this, my thoughts went back to the hockey stick graph from East Anglia...

    ReplyDelete
  2. Krugman is an intelligent guy, and immensely talented within the economics field with which he got his Noble (a very eclectic portion of world economic thinking with an emphasis with tariffs, or so I've read) and the vast majority of his fame. Yet he achieved both the fame, the talent and the Nobel through days, weeks, if not outright months of work for every conclusion. Certainly I don't agree with all of them, yet I acknowledge that a lot of his life went into his work, then. Yet now? He reads like he pulled his opinion right off the back cover of Newsweek, but he acts like he put the same amount of work into reading that proverbial back of Newsweek as he did his Nobel thesis.

    The Nobel has gone to his head in the worst possible way.

    ReplyDelete
  3. John - At least the East Anglia folks were good pretenders. Krugman is more like the 2nd grader who copied his homework assignment off the web.

    Remblings - So true on Krugman. Though as I understand it, his work was all theoretical and I have to wonder if his Nobel wasn't politically motivated (his work was showing on paper how restricting trade through tariffs could be efficient, something the big government folks must love). The change in Krugman's work over the years is the difference between one's who is searching for the truth and one trying to pretend a preconceived conclusion is the truth.

    ReplyDelete
  4. C-Gen - I think you have it nailed here! When I read and (unfortunately have to) dissect Krugman's drivel I typically and nearly instantly hearken back to his alter-ego with no indpendent ego - Ezra Klein. The lack of critical thinking between these two actually suggests that perhaps something more is amiss.

    In fact knowing that they are much smarter than one would gather through their tortured platitudes, it's almost as if I come away thinking that someone pulls their strings.

    Or is it that someone (ie. robotic conformity) pulls the strings of the 'elite' leftist?

    ReplyDelete

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