Paul Krugman: What is he talking about

[Chicago1]

http://www.dailykos.com/story/2008/11/21/232521/35/164/664956


Paul Krugman seeems to be getting everyone in a tizzy over prediciting gloom and doom for the economy. President Obama hasn't taken office yet. I wish Krugman would be quiet and let things fall where they will.


START THE IMPEACHMENT

[Egalitariat]

1. At some point soon, I think the press will go from glass half empty to glass half full

[TwilightZone]

2. Krugman is a smart guy, and the statement he made is nothing new.

He's been talking about doom and gloom re: the economy for months.

[AngryAmish]

5. Months? Many years.

This is not a problem of PK, but a problem in prognosticating generally. We only hear about the times they are right, not the other times they are wrong. We think people have predictive powers because of the way our brains work (hindsight bias).

One of the problems/features of this part of our universe is we cannot predict the future. It is simply impossible. Past events may give us some insight, some description of what not to do but we cannot predict the future.

[G_j]

3. some more doom and gloom for ya..

Nouriel Roubini who predicted the crisis, talks to Bloomburg news about a New Deal.


watch, http://www.maybememe.com/post/60905775

[leftchick]

6. why in the hell

is he not on obama's advisory board? That is some scary shit.

:(

[Juche]

7. He thinks unemployment will hit 9.5 by the end of next year

After that it'll supposedly recover. He and Krugman have both called for $400-600 billion stimulus packages.

[wtmusic]

4. Honesty is the best policy

and the cards are falling exactly where Krugman has predicted they would for ten years.

[ljm2002]

8. Yeah, Paul Krugman should just STFU!

Then people wouldn't notice that their banks are failing, the stock market is crashing and the domestic automobile industry is on the verge of collapse. If only that darned Paul Krugman would just stop talking about it! Why talk about our economic woes anyway? Who does he think he is, an economist or something?

:sarcasm: