Michael Hudson talks shit about Krugman all the time and it’s hilarious
this post was submitted on 09 Nov 2023
253 points (100.0% liked)
the_dunk_tank
15910 readers
559 users here now
It's the dunk tank.
This is where you come to post big-brained hot takes by chuds, libs, or even fellow leftists, and tear them to itty-bitty pieces with precision dunkstrikes.
Rule 1: All posts must include links to the subject matter, and no identifying information should be redacted.
Rule 2: If your source is a reactionary website, please use archive.is instead of linking directly.
Rule 3: No sectarianism.
Rule 4: TERF/SWERFs Not Welcome
Rule 5: No ableism of any kind (that includes stuff like libt*rd)
Rule 6: Do not post fellow hexbears.
Rule 7: Do not individually target other instances' admins or moderators.
Rule 8: The subject of a post cannot be low hanging fruit, that is comments/posts made by a private person that have low amount of upvotes/likes/views. Comments/Posts made on other instances that are accessible from hexbear are an exception to this. Posts that do not meet this requirement can be posted to [email protected]
Rule 9: if you post ironic rage bait im going to make a personal visit to your house to make sure you never make this mistake again
founded 4 years ago
MODERATORS
I started looking around to find some examples and I'm having a blast
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.
That is the specific statement I remember lol, I watched the video embedded on that page. If you haven’t already, I suggest reading/listening to the whole thing because it’s quite funny yet informative.
So Krugman doesn’t understand the difference between paying a domestic debt and paying a foreign debt. And that’s because he doesn’t understand foreign trade.
If he understood foreign trade and debt, he never could have won a Nobel Prize. A precondition for winning the Nobel Prize is not to understand how international finance works so that you can act to preserve the kind of financial superstition that’s taught in the universities like the University of Chicago.
load more comments
(1 replies)
He is so respectful to everyone except this ghoul 😂
Lol this has to be satirical right? Also i remember Hudson calling this dude a dumbass 😂
load more comments
(4 replies)
Well, if you just round up, everybody's a millionaire. Great work, Biden!
What is this fiction lmao 📉📈
You kids and your need for shelter and food. Back in my day we ate hats and slept under a bottle cap.
- Inflation and corporate opportunism causes goods and services to become wildly expensive.
- Discretionary spending collapses due to exorbitant costs, but essential consumption remains steady or increases.
- Cost of extraneous goods and services decreases due to reduced demand.
- Paul Krugman narrows CPI to exclude 50%+ of household consumption, focusing only on commodities with falling demand.
- Victory declared.
"You know, if you exclude goals scored, my team won!"