(full site)
Fark.com

Try out our new mobile site!


Back To Main
   The fake economist who conned an entire nation. Shockingly, not about Paul Krugman

25 Jan 2013 02:58 PM   |   16573 clicks   |   NPR
Showing 1-50 of 144 comments
Refresh Page 2
View Comments:
zerkalo     
Drink!

25 Jan 2013 03:00 PM
Muta     
Being against the austerity cuts makes him a better economist than all the "real" economists who think the cuts will help Portugal.

25 Jan 2013 03:02 PM
worlddan     
Did not read the article but it should be this man:

http://en.wikipedia.org/wiki/Laffer_c urve

what a laugh.

25 Jan 2013 03:03 PM
AliceBToklasLives     

Muta: Being against the austerity cuts makes him a better economist than all the "real" economists who think the cuts will help Portugal.


Precisely what I was thinking.

/fun fact: Adam Smith did not have a degree in economics

25 Jan 2013 03:06 PM
Five Minute Standup     

Muta: Being against the austerity cuts makes him a better economist than all the "real" economists who think the cuts will help Portugal.


Done in two.

25 Jan 2013 03:06 PM
Mrbogey     
I wonder how many farkers cited his work.

25 Jan 2013 03:07 PM
ghare     
Awww, poor subtard, his GED in Economics is FAR more cromulent than anything Krugman has ever done, but yet no one recognizes that!

25 Jan 2013 03:09 PM
rev. dave     
He got away with it because he was correct. Austerity in a recession creates a downward spiral.

25 Jan 2013 03:11 PM
AssAsInAssassin     
u18chan.comView Full Size

25 Jan 2013 03:12 PM
jvl     

Muta: Being against the austerity cuts makes him a better economist than all the "real" economists who think the cuts will help Portugal.


I hear this argument a lot on Fark. That doesn't make it true.

No economist thinks austerity helps an economy. Instead, it is a way for countries which have overspent and overborrowed to get their shiat together instead of going bankrupt. Sorry, Mommy isn't here to pay your bills for you anymore.  Going bankrupt is not an option since that involves being unable to borrow any money so you have to cut back even harder.

25 Jan 2013 03:14 PM
Arkanaut    [TotalFark]  
Not a John Law retrospective?

/Not technically a fake, but he did kill a man.

25 Jan 2013 03:14 PM
hitlersbrain     
A basic rule of thumb that will, apparently, never sink into common human knowledge is... if some one is very charismatic they are full of shiat and suitable only as entertainment.

'fake economist'? What's the opposite of an oxymoron?

25 Jan 2013 03:15 PM
Bawdy George     

ghare: Awww, poor subtard, his GED in Economics is FAR more cromulent than anything Krugman has ever done, but yet no one recognizes that!


Funny thing is, Krugman would very likely have a similar recommendation.

25 Jan 2013 03:17 PM
Arkanaut    [TotalFark]  

jvl: Muta: Being against the austerity cuts makes him a better economist than all the "real" economists who think the cuts will help Portugal.

I hear this argument a lot on Fark. That doesn't make it true.

No economist thinks austerity helps an economy. Instead, it is a way for countries which have overspent and overborrowed to get their shiat together instead of going bankrupt. Sorry, Mommy isn't here to pay your bills for you anymore.  Going bankrupt is not an option since that involves being unable to borrow any money so you have to cut back even harder.


Austerity can be good for some countries if their neighbors / trading partners are wealthy and growing. It reduces the "crowding-out" effect of government and makes your economy more sustainable. But if all your neighbors are also cutting spending or are undergoing their own recessions, you're just going to end up hurting a lot of people and discrediting your policies.

25 Jan 2013 03:17 PM
AssAsInAssassin     

hitlersbrain: What's the opposite of an oxymoron?


Nitrogenius

25 Jan 2013 03:17 PM
AssAsInAssassin     

Bawdy George: ghare: Awww, poor subtard, his GED in Economics is FAR more cromulent than anything Krugman has ever done, but yet no one recognizes that!

Funny thing is, Krugman would very likely have a similar recommendation.


Wat?

"But the truth is that the protesters are right. More austerity serves no useful purpose; the truly irrational players here are the allegedly serious politicians and officials demanding ever more pain."

25 Jan 2013 03:19 PM
Fark Rye For Many Whores     
www.alumni.ucdavis.eduView Full Size

To be fair, fooling the whole of Portugal isn't a big achievement.

25 Jan 2013 03:20 PM
deadsanta     

jvl: Muta: Being against the austerity cuts makes him a better economist than all the "real" economists who think the cuts will help Portugal.

I hear this argument a lot on Fark. That doesn't make it true.

No economist thinks austerity helps an economy. Instead, it is a way for countries which have overspent and overborrowed to get their shiat together instead of going bankrupt. Sorry, Mommy isn't here to pay your bills for you anymore.  Going bankrupt is not an option since that involves being unable to borrow any money so you have to cut back even harder.



Because they print their own currency, sovereign states cannot go bankrupt, so they are not analogous to the familial finances of the woman who is still apparently letting you live in her basement and troll the nets.

25 Jan 2013 03:22 PM
mark12A     
The USSR would say it was Karl Marx.

25 Jan 2013 03:22 PM
GreatGlavinsGhost     
Is this about Milton Freidman and the Chicago School's South American AdventuresTM?

25 Jan 2013 03:25 PM
thisisyourbrainonFark    [TotalFark]  

worlddan: Did not read the article but it should be this man:

http://en.wikipedia.org/wiki/Laffer_c urve

what a laugh.


www.talktalk.co.ukView Full Size


Are you having' a laugh?

25 Jan 2013 03:25 PM
tender     
"Trololololooooo..." ♬

25 Jan 2013 03:31 PM
BalugaJoe    [TotalFark]  
Milton Friedman?

25 Jan 2013 03:32 PM
garandman1a     
Unfortunately Krugman did fool the entire planet at one time. Saying he is a tool is disrespectful of actual tools, which do useful things for society.

25 Jan 2013 03:32 PM
d23    [TotalFark]  
EVERY economist is a fake*


*except the type that do the studies like you see in "Freakanomics" that use REAL data and not PULL-IT-OUT-YOUR-ASS data.


It's one big scam.

25 Jan 2013 03:34 PM
KrispyKritter     
cms.mainattraction.netView Full Size


R.I.P.

25 Jan 2013 03:35 PM
hitlersbrain     

AssAsInAssassin: hitlersbrain: What's the opposite of an oxymoron?

Nitrogenius


I like it. It's 'sciencey'.

25 Jan 2013 03:36 PM
Bawdy George     

AssAsInAssassin: Bawdy George: ghare: Awww, poor subtard, his GED in Economics is FAR more cromulent than anything Krugman has ever done, but yet no one recognizes that!

Funny thing is, Krugman would very likely have a similar recommendation.

Wat?

"But the truth is that the protesters are right. More austerity serves no useful purpose; the truly irrational players here are the allegedly serious politicians and officials demanding ever more pain."


FTFA: "It seems like Baptista da Silva pulled off his con in part because he said what a lot of people wanted to hear. He criticized the harsh austerity measures imposed by the government"

See much difference there? I don't, other than Krugman was talking about Spain and Greece rather than Portugal.

25 Jan 2013 03:36 PM
This text is now purple     

deadsanta: Because they print their own currency, sovereign states cannot go bankrupt, so they are not analogous to the familial finances of the woman who is still apparently letting you live in her basement and troll the nets.


Isn't Greece's problem that they don't control the printing of their own currency?

They have a way out, but it involves leaving the Eurozone.

25 Jan 2013 03:39 PM
TofuTheAlmighty     
Shockingly, not about Paul Krugman

That's because no one listens to Paul Krugman!

(Krugman is actually the best pundit employed by a major newspaper and he has genuine economics expertise.)

25 Jan 2013 03:43 PM
misanthropologist     
A lot of the pro-austerity pundits have no training in economics either. Doesn't stop people listening to them...

25 Jan 2013 03:45 PM
lockers     

Muta: Being against the austerity cuts makes him a better economist than all the "real" economists who think the cuts will help Portugal.


True. A very few wealthy select are coming out ahead with how Europe is handling their banking crises. Putting that debt on the back of the government has made the governments fail. The only country who properly handled it was Iceland. Iceland is now humming along while the PIGS are all in the midst of a full blown depression. The only out is to default on their debt at this point, since anything that can't be paid back, won't.

25 Jan 2013 03:46 PM
Wangiss     

worlddan: Did not read the article but it should be this man:

http://en.wikipedia.org/wiki/Laffer_c urve

what a laugh.


Most serious leftist Keynesians accept the Laffer curve, but argue that we are nearly always on the pro-demand-side economics segment of the graph. It is after all based on accepted definitions. Rightist economists somply argue that we are nearly always on the pro-supply-side economics segment of the graph. The Laffer curve is a laughingstock not because of its lack of theoretical utility, but because of the constant references by rightist economists.

25 Jan 2013 03:46 PM
misanthropologist     
And anyways, being a real economist doesn't necessarily involve a relationship with social phenomena... a lot of econ consists of wonderful models that break down as soon as complex dynamics and real people have to be accounted for.

25 Jan 2013 03:48 PM
GoodOmens     

worlddan: Did not read the article but it should be this man:

http://en.wikipedia.org/wiki/Laffer_c urve

what a laugh.


The laffer curve exists - what's hard/next to impossible to predict is where we are on the curve. Any economist who claims to know is lying.

25 Jan 2013 03:51 PM
BigJake     

TofuTheAlmighty: (Krugman is actually the best pundit employed by a major newspaper and he has genuine economics expertise.)


There is a gigantic gap between Krugman the social scientist and Krugman the polemicist.

25 Jan 2013 03:51 PM
OscarTamerz     
static.designspiration.netView Full Size


Bush released the college transcripts showing he scored higher than his opponent Kerry at Yale. Aren't we still waiting for a certain someone to release his college transcripts? Maybe he smoked them all.

25 Jan 2013 03:52 PM
BigJake     

OscarTamerz: [static.designspiration.net image 530x365]

Bush released the college transcripts showing he scored higher than his opponent Kerry at Yale. Aren't we still waiting for a certain someone to release his college transcripts? Maybe he smoked them all.


And for our next performance of Non Sequitur Theatre,

25 Jan 2013 03:54 PM
Cagey B     

garandman1a: Unfortunately Krugman did fool the entire planet at one time. Saying he is a tool is disrespectful of actual tools, which do useful things for society.


Please explain why Paul Krugman is generally wrong and how specifically he "fooled the entire planet". I'm interested in the perspective that your no-doubt intensive training in economics has granted you in this matter.

25 Jan 2013 03:54 PM
RickyWilliams'sBong     

d23: EVERY economist is a fake*

*except the type that do the studies like you see in "Freakanomics" that use REAL data and not PULL-IT-OUT-YOUR-ASS data.

It's one big scam.


I hope this is just trolling. Freakonomics is methodologically about as useless as the Laffer curve.

Granted, it's dazzlingly impressive to contrarian morons.

25 Jan 2013 03:55 PM
rufus-t-firefly     

OscarTamerz: [static.designspiration.net image 530x365]

Bush released the college transcripts showing he scored higher than his opponent Kerry at Yale. Aren't we still waiting for a certain someone to release his college transcripts? Maybe he smoked them all.


I'd beg you to give that poor chicken a break, but it's just a mass of bloody feathers.

25 Jan 2013 03:58 PM
Millennium     

deadsanta: Because they print their own currency, sovereign states cannot go bankrupt, so they are not analogous to the familial finances of the woman who is still apparently letting you live in her basement and troll the nets.


That holds unless "printing more money" isn't actually an option. For most of the Eurozone countries, it's pretty much a legal nonoption: the dark side, if you will, of having a unified monetary policy.

In the US, it's a little different. You've got a party that sees printing more money as an unacceptably dishonest thing to do, and thus off the table. Remove it as an option, and the analogy starts to make a lot more sense.

25 Jan 2013 04:00 PM
Wangiss     

GoodOmens: worlddan: Did not read the article but it should be this man:

http://en.wikipedia.org/wiki/Laffer_c urve

what a laugh.

The laffer curve exists - what's hard/next to impossible to predict is where we are on the curve. Any economist who claims to know is lying.


That's much more succinct. Thank you.

25 Jan 2013 04:00 PM
StopLurkListen     

Cagey B: garandman1a: Unfortunately Krugman did fool the entire planet at one time. Saying he is a tool is disrespectful of actual tools, which do useful things for society.

Please explain why Paul Krugman is generally wrong and how specifically he "fooled the entire planet". I'm interested in the perspective that your no-doubt intensive training in economics has granted you in this matter.


Krugman's always wrong, and bad, and wrong. Because freedoms. And America!

25 Jan 2013 04:03 PM
Wangiss     

Millennium: deadsanta: Because they print their own currency, sovereign states cannot go bankrupt, so they are not analogous to the familial finances of the woman who is still apparently letting you live in her basement and troll the nets.

That holds unless "printing more money" isn't actually an option. For most of the Eurozone countries, it's pretty much a legal nonoption: the dark side, if you will, of having a unified monetary policy.

In the US, it's a little different. You've got a party that sees printing more money as an unacceptably dishonest thing to do, and thus off the table. Remove it as an option, and the analogy starts to make a lot more sense.


Fortunately for Greek citizens, their government is encouraging misbehavior in that regard.

25 Jan 2013 04:03 PM
Karma Curmudgeon     

AssAsInAssassin: hitlersbrain: What's the opposite of an oxymoron?

Nitrogenius


Heroineinstein?

25 Jan 2013 04:09 PM
hitlersbrain     

OscarTamerz: [static.designspiration.net image 530x365]

Bush released the college transcripts showing he scored higher than his opponent Kerry at Yale. Aren't we still waiting for a certain someone to release his college transcripts? Maybe he smoked them all.


He was President of the Harvard Law review. Bush was retarded, if he had high grades it was because his daddy bought them. He only had 2 answers to any questions; 1 - Jesus. 2. - Ask Dick Cheney.

25 Jan 2013 04:11 PM
Marcintosh     

Fark Rye For Many Whores: [www.alumni.ucdavis.edu image 360x326]
To be fair, fooling the whole of Portugal isn't a big achievement.


OH so you fooled all of what, Uruguay? Pffft
Give the guy his due, jesus don't be so cheap.

Dude, you are one suave Mother Farker.
www.brixpicks.comView Full Size

"The Candy Colored Clown they call The Sandman, tip toes to my room every night"
HERE'S TO BEN!
okay, so it was a harsh day and I'm a little off, at least that's out of the way. . .

25 Jan 2013 04:11 PM
Cagey B     

OscarTamerz: [static.designspiration.net image 530x365]

Bush released the college transcripts showing he scored higher than his opponent Kerry at Yale. Aren't we still waiting for a certain someone to release his college transcripts? Maybe he smoked them all.


When will OscarTamerz release his police records? I would think he would be pretty anxious to prove he's not a child molester, but maybe he has different priorities than the rest of us.

25 Jan 2013 04:15 PM
gameshowhost     
The Austrian School is more than one economist.

/austrian school - faith based economics

25 Jan 2013 04:18 PM
Showing 1-50 of 144 comments
Refresh Page 2
View Comments:
This thread is closed to new comments.


Back To Main

More Headlines:
Main | Sports | Business | Geek | Entertainment | Politics | Video | FarkUs | Contests | Fark Party | Combined