Nobel Economist Paul Krugman Gets Trolled for Saying Inflation Is Over if You Just Exclude Most of What People Buy
Business Insider | October 13, 2023 | Theron MohamedPaul Krugman was widely trolled on Thursday for saying that if you just ignore food, energy (including gasoline), housing, and used cars — unavoidable costs for many Americans — then the period of surging prices has passed.
“The war on inflation is over,” he posted on X, attaching a chart showing the Consumer Price Index (CPI) dropped from 7% last summer to below 2% in September if you exclude those four items. “We won, at very little cost.”
“. . . food prices are up 20% since December 2020. Talk about destruction of middle class wealth!”
Confounded Interest | 10/14/2023 | Anthony B. Sanders
Paul Krugman channeling the “Except for that, how was the play Mrs. Lincoln?” vibe.
Except for felonies and misdemeanors, there is no crime in the world!
I’m for inflation when selling my house, but against it when buying.