Why I Love Paul Krugman
The weathervane, frequently a silhouette of a rooster, used to be how a farmer told which way the wind was blowing. The farmer knew that the rooster's beak pointed into the wind while his tail pointed away. When it comes to the truth, Paul Krugman is a weathervane. However, Mr. Krugman is more akin to the rooster's behind than the rooster's beak.
There is no source more consistently wrong than Paul Krugman's New York Times column, and that is exactly why I read it whenever I can.
This all may seem odd, but just as a rooster's tail must always point away from his beak, you only have to know which end of the chicken you're looking at to know which way the wind blows.
We'll let Krugman fill in the blank:
Printing money and counterfeiting away people's savings is ______.
Krugman : good
Gold is __________.
Krugman: useless and without value
The financial crisis was _________.
Krugman: unforeseeable and unavoidable
Cutting government spending is ______.
Raising minimum wage ____ low-wage workers.
Social Security needs to be _______.
The European slump is ________ fault.
This is only from a few months-worth of Krugman articles, hardly cherry-picking for nuggets of folly. These were, more of less, the theses of his articles.
For the intellectually lazy, if one wishes to be on the right side of an issue, one only needs to read Krugman and head the other direction. For those without the time or emotional investment to study an issue, an anti-Krugman stance may be the most ideologically sound.
A nagging suspicion remains: The tail points the exact opposite direction of the beak because they are connected, and in a material sense, communicating perfectly. That is to say, a total falsehood can only be fabricated with total recognition of the truth. Krugman must perfectly understand the issues of our times, but for some reason chooses to reverse the sign of his message. Either he hates humanity and has a perverse sense of humor, or he found it necessary to keep his check from the New York Times rolling in.
Hats off to you, Mr. Krugman, you are a much wealthier man than I.