Paul Krugman is a gem. I truly enjoy reading his diatribes which attack this or that while ignoring far more important this or thats.
In his most recent New York Times Op-Ed he supports the no interest rate increase by the fed while attacking bankers. My favorite quote is the following.
It’s true that rates — near zero for the short-term interest rates the Fed controls more or less directly — are very low by historical standards. And it’s interesting to ask why the economy seems to need such low rates. But all the evidence says that it does. Again, if you think that rates are much too low, where’s the inflation?
“And it’s interesting to ask why the economy seems to need such low rates.”
Really, I mean really‼️ This is the fundamental issue we face today, the issue that Krugman’s much beloved political left should have been dealing with first and foremost for the last six years. Really Paul, just interesting to ask⁉️
And while you worry about bankers wanting higher interest rates, how about worrying a bit about the average American earning zip percent on his bank account.
Categories: Observations on life