https://x.com/NathanJRobinson/status/1800915894585147399
Krugman, despite being a neoliberal knows that food is an essential item. So likely he is propagandizing for Biden.
Look at personal savings rate.
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giving americans 2 small checks during covid has broken economists’ brains
I was thinking about winning the extremely scientific and intellectually rigorous Nobel Prize in Economics, but everytime I sit down to write Rich and Powerful People Are Rich and Powerful Because They Are Supposed to Be I have diarrhea.
Being an economist seems like the easiest job in world. Don’t get me wrong, you’re gonna need to give up your soul, but the actual work? Prices this, trickle down that, boots straps a bit, and boom pay cheque
It seems that there’s a swarm of midwit failsons competing to be the next krugman constantly backstabbing eachother and making eachother miserable. Most of them are just smart enough to know their field is bullshit but not smart enough to do anything else. I’d say it’s a miserable existence but that doesn’t mean we shouldn’t still hang them all.
The ones who aren’t smart enough become behavioural economists
I mean, they get called the high priests of capitalism for a reason
Isn’t the Nobel in economics a scented banana sticker from a bank that helped tank the global economy in 2008?
Yes. It has nothing to do with Nobel. They just slapped the name on it because they wanted to add legitimacy to their bullshit. It’s like getting a “Nobel prize” in Ouiji Boarding.
You complain about more expensive food, yet you continue to spend too much money on it
We just want to survive
“Thou shalt not suffer an economist to live!”
Michael Hudson always roasts this guy.
Really cool how every necessity in the US is treated just like a stock: another speculative asset and the idea of making something to fulfill a purpose is just…alien to the American mind. Even if you profit from selling something people need and fulfilling that need.
Kropotkin asserted that if capitalists could privatize air to breath and sell it they would. Seemed a bit hyperbolic 100 years ago, and here we are
Americans are bad at dystopian fiction because every time some nerd is like “imagine a terrible future where you pay money for air” a whole rogues gallery of lamprey-men think it sounds like a great idea.
(5) When the Lamb opened the third seal, I heard the third living creature say, “Come!” I looked, and there before me was a black horse! Its rider was holding a pair of scales in his hand. (6) Then I heard what sounded like a voice among the four living creatures, saying, “Two pounds of wheat for a day’s wages, and six pounds of barley for a day’s wages, and do not damage the oil and the wine!” --the revelation of st. john, ch. 6
a literally biblical famine is when food is so expensive that you have to work all day just to afford one day’s worth of food for yourself, or one day’s worth of less nutritious food for yourself and a small family
if food is too expensive, then why are you spending literally all of your money on it?when did we get a biblically accurate brandon
The “Nobel Price” of Economics is not handed out by the nobel foundation - it’s not a nobel price.
Nobel economics prize: not a real Nobel. It’s technically called The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, because economists are insufferable nerds and aren’t comparable to real arts and sciences.
Holy fucking shit what an amazing willing misunderstanding of a graph
That’s not a graph of meals eaten at fast food, it’s money spent. That graph says exactly what he’s trying to disprove!!! That is a graph that says “people are spending more money on fast food” which is very easily explained by “the cost of fast food has increased”!
This isn’t even pissing on my head and telling me it’s raining, this is pissing on my head and telling me it’s a sunny day in the middle of a drought!
Perhaps the most egregious part of this is that the graph shows dollar expenditures, not meals bought.
- A store in 2014 sells 1000 hamburgers at $5 each = $5000 in expenditures
- Same store in 2024 sells 800 hamburgers at $10 each = $8000 in expenditures
It’s common for companies to raise prices to increase revenue, even if raising prices results in fewer people buying your product. This shit is taught in high school economics. Absolutely nothing here shows anything about how many people can afford fast food.
Also, the other thing is to look at with this is people eating out generally, there could also be the phenomena of middle class people responding to increased prices by eating fast food more to substitute more expensive take out options.
Another factor is people could generally be living further from work now than 10 years ago due to higher rents. Meaning they’re more likely to eat a meal near their office while having less time to cook, hence needing fast food.
This was kind of my first thought. I eat out more when I’m stressed because of the comfort of eating out and the lack of energy to cook for myself, even if it puts me in a worse economic situation. Sometimes you have to cope just to keep alive. Maybe we can coin the term “copeanomics” to describe increased sales of “luxury” items in times of increased societal instability.
Krugman may be one of the most willfully ignorant economists alive today.
Lol, coward has his replies limited so he doesn’t get dunked on
Edit: lol deranged https://twitter.com/whstancil/status/1800796843103990008
Also the guy who says the economy is doing great (if you ignore food and housing)
Beyond clownworld
