Oh, dear, this just keeps getting worse

The White House is now citing Paul Krugman as its economics expert to support the claim that inflation is being caused by corporate greed.

And there’s more; much more

Paul Krugman: Always Wrong, Never in Doubt

Paul Krugman’s worst economic predictions

On Trump’s election: Before the markets even had the chance to open the following day, Krugman took to his New York Times column to predict they would never recover. “It really does now look like President Donald J. Trump, and markets are plunging. When might we expect them to recover? …“If the question is when markets will recover, a first-pass answer is never.”

Krugman in 2017 – There Will Be No Return to 3% Growth

Appearing on Bloomberg in March 2017, Krugman expressed doubt that we’d be seeing a return to 3% economic growth under the Trump administration.

In 1998, Krugman dismissed the rise of the internet’s popularity and its eventual economic effects: “The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law’–which states that the number of potential connections in a network is proportional to the square of the number of participants–becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s.”

Only four years later Krugman came up with a plan to save the economy from the technology bubble which had just went bust – create another economic bubble! “To fight this recession the Fed needs…soaring household spending to offset moribund business investment. [So] Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble.” And with that came the worst financial crisis since the great depression.

And that’s not all! In 2010 he predicted that we’d begin experiencing deflation – when in reality we experienced relatively low inflation. In 2008 he predicted that Europe would outperform America economically – and then the financial crisis hit, and Europe was hit far harder than the U.S. (and took much longer to recover from it). On eleven occasions between April 2010-July 2012 Krugman predicted that the Euro would collapse – which obviously never happened.