that the “odds are probably better than half that a recession will start next year.” The economist also touched upon the prices of crude oil and commodities, and further highlighted problems with “the geopolitical situation.”
American economist Larry Summers is urging the Biden administration to put more effort into fighting inflation. “I wish my friends in the administration would turn their attention to what they can do to reduce inflation rather than clinging to the idea that this is something that’s been done to them by the fates,” Summers said.at the Aspen Security Forum.
“What is a recession? While some maintain that two consecutive quarters of falling real GDP constitute a recession, that is neither the official definition nor the way economists evaluate the state of the business cycle,” the Biden administration said in anpublished on Thursday. “Looking ahead, we know that the U.S., along with the rest of the global economy, faces significant headwinds—and little relevant data are yet available on the third quarter .
On July 20, 2022, two opinion contributors for The Hill, EJ Antoni and Stephen Moore, published a post called “Biden’s six favorite lies about inflation and the economy.” The authorsDeceptions include telling people “Nobody making under four hundred thousand bucks will have their taxes raised,” which turned out to be false. The authors criticized the White House for
Krugman made a good guess once many years ago and got the prize for it. He’s been living off the glory ever since. Why do people take him seriously about anything?
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The sooner we stop calling this obvious cathedral operative an economist the better
The man is the master of bad calls.
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When has Krugman or any Keynesian ever made a good call?
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That's pretty much all he has...very bad calls.