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Paul Krugman’s Honest Take On Egypt: “I Don’t Know Anything”

» 51 comments

Fans of New York Times economic luminary Paul Krugman waiting on bated breath for an extensive financial analysis of the Egyptian uprising are in for a major disappointment: Krugman isn’t taking the bait. In a three-sentence confession on his blog, Krugman has admitted that he has no idea what to make of the Egyptian situation and knows better than to say anything at all.

Seems that, rather than attempt to discuss a subject on which he seems to have ruminated very little, Krugman decided that, when he has nothing smart to say, better not to say anything at all:

Perhaps Krugman feels a bit gun-shy after his comments blasting Sarah Palin and the American right for the tragic shooting in Tucson tarnished him in front of many on the center-right, not to mention his regular detractors that found said comments unacceptable. Or perhaps he independently came to the conclusion that honesty is the best policy. Either way, while his fans will only respect him more for knowing better than trying to disguise a lack of knowledge, those that have slammed Krugman precisely for speaking before thinking will likely milk this comment for all it’s worth, or at least hope this is the beginning of a trend.

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  • The Lantern of Truth

    NOW , he ‘s being honest . Before , just ridiculous .

  • chatmandu002

    Mr. Krugman, give back your award. You don’t deserve it.

  • axel360

    “I don’t know anything”-A statement liberals should say admit to more often

  • writer

    He’s stalling till he can think of a way to blame the Egyptian situation on Palin.

  • WCinWI

    I’m sure he’s thinking of a way to blame it all on Palin.

  • WCinWI

    writer said:
    He’s stalling till he can think of a way to blame the Egyptian situation on Palin.

    Whoops…didn’t see your posting until after I posted mine. My bad. :)

  • Thelonious Funk

    He should read more of the comments section where everyone knows everything.

  • Upon Further Review

    Wow, I never thought I’d find myself agreeing with Paul Krugman, but today I’ll make an exception — regarding his first seven words, anyway.

  • writer

    WC, I’ll take the armwood approach. By agreeing with me, you must be very intellectual.

  • BatBoy

    Krugman needs to review his files on Dick Chaney, Karl Rove,George Bush, Global Warming, salt, Twinkies consumption and why the dinasours disappeared . Surely there is a connection that can tie all of these together with the clash in Egypt.

  • writer

    Ask him what he thinks about evolution.

  • http://www.facebook.com/people/Daniel-M-Chick/507482075 Daniel M. Chick

    Yet when it comes to Sarah Palin, he’s willing to spew any nonsense to get himself into the news. This guy is absurd.

  • http://www.facebook.com/people/Ed-Lascar/100000889579338 Ed Lascar

    Why to expect a luminous insight from a liberal, in the first place?

    He will offer just after thoughts. He doens’t have principles at al!

  • notsofast

    Hey Paul, did the angry rhetoric in America cause this?

  • Courteous Commentary

    Wow, there wasn’t a polite comment in all the ones above. Why must everyone be so rude, and add so little to the conversation?

  • Dem4Ever

    That’s right fuzzy face, “You don’t know anything”!

  • The Lantern of Truth

    Courteous Commentary said:
    Wow, there wasn’t a polite comment in all the ones above. Why must everyone be so rude, and add so little to the conversation?

    How impolite to allege that .

  • Moderate

    “when he has nothing smart to say, better not to say anything at all:”

    That hope he has learned a lesson that sticks with him.

  • ganymede

    I doubt whether anyone who’s commented here has read much or any Paul Krugman. He is probably one of the top economists of our time. Take a look at what he has to say then your comments will have some meaning.

  • NORBIT

    Hey Paul, you might as well throw economics and politics into the confession, as well!

    - and I don’t need to hear about the politically-motivated Nobel Sham-Award; remember, they gave a Peace Prize to Obama before he took his first movement on a White House toilet!
    The once heralded Nobel Prizes have been rendered virtually meaningless.

  • Courteous Commentary

    NORBIT said:
    Hey Paul, you might as well throw economics and politics into the confession, as well! – and I don’t need to hear about the politically-motivated Nobel Sham-Award; remember, they gave a Peace Prize to Obama before he took his first movement on a White House toilet!The once heralded Nobel Prizes have been rendered virtually meaningless.

    Now that was written with a lot of class!

  • NORBIT

    ganymede said:
    I doubt whether anyone who’s commented here has read much or any Paul Krugman. He is probably one of the top economists of our time. Take a look at what he has to say then your comments will have some meaning.

    Oh really?
    Did Paul affix blame for the subprime debacle at the feet of Fannie & Freddie – where it properly belongs?

    Yes, the lowlife greedmongers on Wall Street facilitated the crisis, but without a US Guarantee backing those worthless mortgages, you couldn’t even sell one to Bernie Madoff’s clients!

  • Courteous Commentary

    NORBIT said:
    Oh really?Did Paul affix blame for the subprime debacle at the feet of Fannie & Freddie – where it properly belongs? Yes, the lowlife greedmongers on Wall Street facilitated the crisis, but without a US Guarantee backing those worthless mortgages, you couldn’t even sell one to Bernie Madoff’s clients!

    Just curious, why should we believe you on this issue, over Paul Krugman? What are your credentials? Just curious….

  • Dem4Ever

    ganymede said:
    I doubt whether anyone who’s commented here has read much or any Paul Krugman. He is probably one of the top economists of our time. Take a look at what he has to say then your comments will have some meaning.

    He’s an idiot and so are you, you jerk!

  • Courteous Commentary

    Dem4Ever said:
    He’s an idiot and so are you, you jerk!

    Actually, Dr. Krugman is not an idiot. He actually went through many universities, and received a Ph.D. He has written many books, and articles, which have been well received. You would be better off refuting his arguments rather than calling him (and others) rash names. We would all be the better for it, my friend.

  • Carol West

    axel360 said:
    “I don’t know anything”-A statement liberals should say admit to more often

    Liberals usually admit when they are wrong and apologize.

  • Arkansas Steve

    Nice tweet Paul. Your best ever.

    Now why the hell didn’t you issue the exact same tweet right after that crazy murdered innocents in Tucson?

    Just remove the word “economic”. Change the title to MURDER IN TUCSON. Now you’ve got a good tweet.

    Look at his tweet with these subs.

  • Pablo

    Carol West said:
    Liberals usually admit when they are wrong and apologize.

    Now that’s funny. Did Krugman apologize to Palin?

  • BatBoy

    Paul Krugman is the “Worst of the Worst!”

    If there is a Hell, he will be ushered right in!

  • BatBoy

    Carol West said:
    Liberals usually admit when they are wrong and apologize

    Wise Up!

    Everyone here knows your statement does NOT reflect the truth!

  • lazzzlo

    I found this to be pretty clever:

    The Krugman
    by Christopher Stiffler
    (edited by Shawn Adrian)

    Once upon a midnight dreary, while I pondered weak and weary
    Over many a quaint and curious volume of Macro Lore
    While thus struggling and stressing to myself I began professing
    “The whole discipline was guessing and its record was quite poor
    Macro theories are conflicting with 9 of 5 recessions predicting.”
    But to solve my social science course I needed a good score

    Ah, it was in that bleak December, and I could not quite remember,
    What I learned back in September, what the professor did explore.
    With dreams of Christmas break, I could barely stay awake
    A gasp soon I did intake when a knock through the silence tore
    “T’is some fellow student knocking, knocking on my dorm room door”
    Said I, as I opened wide the door

    I thought, at first, I was dreaming to see this bearded man a’beaming
    And his Nobel prize a’gleaming he passed through my dorm room door
    As he came toward my direction recognizing his complexion
    From the Times opinion section, t’was Paul Krugman at my door
    This rare, renowned economist whom the right-wing doth abhor
    Only this and nothing more

    With my luck so quickly turning knowing I could now start learning
    About the essay prompt concerning: how full employment to restore
    With inquisitive expression quickly I began to question
    “How do we end this recession and full employment to restore?”
    Not shaken up nor shaven was the economic maven
    Quoth the Krugman, “Spend some more.”

    “More spending can’t be provided, were the words I gently chided
    With congress ever divided, nothing makes it to the senate’s door”
    “Maybe in a perfect setting, but what you seem to be forgetting
    The whole plan is just begetting of higher deficits galore?
    Borrowing now is easy, paying it back is quite a chore!”
    Quoth the Krugman, “Spend some more.”

    The rest of it…

  • NORBIT

    Courteous Commentary said:
    Just curious, why should we believe you on this issue, over Paul Krugman? What are your credentials? Just curious….

    Credentials? `
    Sorry, I don’t see where “credentials” has anything to do with the veracity of my statement.

    If you’ll reference the recent report from the Financial Crisis Inquiry Commission, you’ll see that the central component enabling the reckless marketing of sub-prime mortgages was the U.S. Guarantee on these instruments.

    My credentials lie in a different field, and are irrelevant to this topic.

    I’m sure there’s more than enough credentials to go around – all earned by the very people who caused this crisis!

  • WHarropson

    Krugman and I finally agree about something.

  • Cancon2

    Who can possibly take this clown seriously ON anything. He and his wife actually burn conservatives in Effigy in the backyard during their coctail parties. If he wasn’t sitting in his padded room at the NYT, he may very well be a real one.

  • Pablo

    NORBIT said:
    Oh really?
    Did Paul affix blame for the subprime debacle at the feet of Fannie & Freddie – where it properly belongs?

    Yes, the lowlife greedmongers on Wall Street facilitated the crisis, but without a US Guarantee backing those worthless mortgages, you couldn’t even sell one to Bernie Madoff’s clients!

    Courteous Commentary said:
    Just curious, why should we believe you on this issue, over Paul Krugman? What are your credentials? Just curious….

    Courteous Commentary said:
    You would be better off refuting his arguments rather than calling him (and others) rash names. We would all be the better for it, my friend.

    You can’t make this stuff up.

  • BOMBSHELL

    Hi! Has anyone seen my daddy?

  • jashan

    Courteous Commentary said:
    Actually, Dr. Krugman is not an idiot. He actually went through many universities, and received a Ph.D. He has written many books, and articles, which have been well received. You would be better off refuting his arguments rather than calling him (and others) rash names. We would all be the better for it, my friend.

    You clearly don’t understand how the comments section of this website works. Stop being so logical and give us your unflinchingly partisan opinion.

  • Davo

    ganymede said:
    I doubt whether anyone who’s commented here has read much or any Paul Krugman. He is probably one of the top economists of our time. Take a look at what he has to say then your comments will have some meaning.

    When has Krugman EVER been right about ANYTHING? He’s not an economist………………economists ground their views in truth and logic. Krugman has never been anything more than an anti-American hack of a columnist.

  • Just_MC

    Looks like someone beat me to the punch, but I will say it anyway.

    REGARDING: Paul Krugman’s Honest Take On Egypt: “I Don’t Know Anything”

    It never stopped him from commenting on economics.

  • Dem4Ever

    Courteous Commentary said:
    Actually, Dr. Krugman is not an idiot. He actually went through many universities, and received a Ph.D. He has written many books, and articles, which have been well received. You would be better off refuting his arguments rather than calling him (and others) rash names. We would all be the better for it, my friend.

    Blow it out your @ss, fool.

  • http://www.facebook.com/people/Kim-Barker/693546751 A Kim Bo

    WCinWI said:
    I’m sure he’s thinking of a way to blame it all on Palin.

    Now if only Palin and Bachmann could admit that they too know NOTHING (as in NOTHING AT ALL not just NOTHING about Egypt) then we’d be on to something.

  • http://www.facebook.com/people/Kim-Barker/693546751 A Kim Bo

    Davo said:
    He’s not an economist………………economists ground their views in truth and logic

    Which is why the ECONOMISTS that informed the neocons about their economic policies have been getting it wrong for 40 years!?! Or maybe they actually meant to destroy the American Middle Class and everything is going as planned.

  • http://www.facebook.com/people/Kim-Barker/693546751 A Kim Bo

    Pablo said:
    You can’t make this stuff up.

    Actually you can, just like NORBIT made up his talking points about subprime mortgage rates being DEVISED by Fannie and Freddie Mac. But what do you expect from someone who gets their ECONOMIC information from Sean Hannity. Especially when Hannity, when not pitching softballs to Palin, is busy stealing from soldiers.

  • http://www.facebook.com/people/Kim-Barker/693546751 A Kim Bo

    The Lantern of Truth said:
    NOW , he ’s being honest . Before , just ridiculous

    What is it again, that you know about Egypt?

    chatmandu002 said:
    Mr. Krugman, give back your award. You don’t deserve it.

    And you, too. What do you know about Egypt?

    Dem4Ever said:
    That’s right fuzzy face, “You don’t know anything”!

    And you, again, what are your thoughts about Egypt?

    notsofast said:
    Hey Paul, did the angry rhetoric in America cause this?

    And I take it that your diversion is also an admission of ignorance about Egypt, correct?

    NORBIT said:
    Hey Paul, you might as well throw economics and politics into the confession, as well!

    And, you too, should admit that you’re wholly ignorant about Egypt, too.

  • http://www.zazzle.com/talkingpoints NORBIT Jr.

    A Kim Bo said:
    Actually you can, just like NORBIT made up his talking points about subprime mortgage rates being DEVISED by Fannie and Freddie Mac. But what do you expect from someone who gets their ECONOMIC information from Sean Hannity. Especially when Hannity, when not pitching softballs to Palin, is busy stealing from soldiers.

    A professor taught me years ago to engage my mind before my tongue. I now pass that same advice along to you, BO:

    If you’ll reference the recent report from the Financial Crisis Inquiry Commission, you’ll see that the central component enabling the reckless marketing of sub-prime mortgages was the U.S. Guarantee on these instruments. (ps, they’re speaking of Fannie & Freddie!)

  • Dem4Ever

    A Kim Bo said:
    What is it again, that you know about Egypt?

    And you, too. What do you know about Egypt?

    And you, again, what are your thoughts about Egypt?

    And I take it that your diversion is also an admission of ignorance about Egypt, correct?

    And, you too, should admit that you’re wholly ignorant about Egypt, too.

    I know that they kill people like you. You should probably stay away from your beloved Egypt.

  • JJHunsecker

    With bated breath, Frances. It’s “with bated breath,” not “on” bated breath. Mediaite desperately needs a copy editor. There are way too many spelling, punctuation and grammatical errors.

  • http://www.facebook.com/people/Kim-Barker/693546751 A Kim Bo

    Dem4Ever said:
    I know that they kill people like you. You should probably stay away from your beloved Egypt.

    Oh yea, that’s right, Egypt’s the land where your big daddy, Mubarak, keeps you in line. Sorry the THEY you’re talking about is the very BIG DADDY you’re who you’re rooting for in Egypt. Just because Republicans like to bow to their corporate-sponsored daddies, doesn’t mean everyone in the world is as cowardly as you.

  • http://www.facebook.com/people/Kim-Barker/693546751 A Kim Bo

    NORBIT Jr. said:
    A professor taught me years ago to engage my mind before my tongue. I now pass that same advice along to you

    And my DADDY said that you know when a fake conservative is lying, their mouths are moving. And you’re fake conservative daddy surrogate, Ronald Reagan, said to trust but verify. So in that spirit I present to you the FACTS you conveniently ignored about the causes of the financial crisis:

    There was an explosion in risky subprime lending and securitization, an unsustainable rise in housing prices, widespread reports of egregious and predatory lending practices, dramatic increases in household mortgage debt, and exponential growth in financial firms’ trading activities, unregulated derivatives, and short-term “repo” lending markets. Additionally there was the Federal Reserve’s pivotal failure to stem the flow of toxic
    mortgages, which it could have done by setting prudent mortgage-lending standards

    In other words, the Financial Inquiry Commission concluded widespread failures in financial regulation and supervision proved devastating to the stability of the nation’s financial markets. That means DEREGULATION and lack of OVERSIGHT failed the system. Fannie and Freddie fulfill NEITHER of those roles. But thanks for shifting the blame of the GOP to regulate and oversee the banking industry on only ONE player in the game that does neither REGULATIONS nor OVERSIGHT.

    No all of us fell off the turnip truck and stumbled into a big pile of Hannitized BS.

  • jrcmi

    Kim – fact and logic don’t go very far, here, but your efforts are appreciated.

    It’s fairly obvious that Dim4Ever is a right-wing troll masquerading as a Dem in a (failed) effort to discredit the left. He’s probably the same kook who uses an Obama pseudonym for the same purpose on other threads, here. The only people he’s fooling are those of his own stripe. They can have him.

    Most of the conservative comments here are tiresome, predictable and just plain WRONG. They can’t discredit Krugman’s or Obama’s accomplishments so they try to diminish the entire Nobel organization. They can’t “refudiate” the actions of their greedy bankster/Wall St. pals so they try to pin the blame on Freddie/Fannie – both of which operated freely during the deregulation-crazed and corrupt Bush administration . . . a point conveniently ignored.

    “Ask him what he thinks about evolution.”

    He thinks you’re an argument AGAINST it.

    “when it comes to Sarah Palin, he’s willing to spew any nonsense to get himself into the news. ”

    He doesn’t have to “spew” anything. He has a regular column at the NYT.

    Speaking of economics; Rep. Paul “Eddie Munster” Ryan has been given free rein to introduce a tax plan that will increase taxes on everyone earning less than about $75K – most punitively on the poorest workers – and REDUCE the already-shrinking tax liabilities of the wealthy.

    A decade of Bush tax reductions for the rich resulted in little – if any – job creation, despite promises to the contrary. We are impoverishing ourselves by cheering on the Republican Tea Partiers as they pay off their fat-cat pals and stick US with the tab.

  • Just_MC

    jrcmi said:
    Most of the conservative comments here are tiresome, predictable and just plain WRONG. They can’t discredit Krugman’s or Obama’s accomplishments

    So, what exactly are Krugman’s ‘accomplishments’ other than hornswoggling well enough to keep his job while every single prediction he makes fails to come true, and every recommendation he makes hurts the economy?

    The nation is dying from 20 years or more of reckless artificial stimulus from the federal reserve, and massive growth of government and hindrance of domestic industry. This decoupling of economic rewards and punishments from actual production of goods and services consumers demand has, ENTIRELY PREDICTABLY, shifted the domestic labor force to more and more “jobs” that don’t produce anything which comprises living standards. People want food, shelter, cars, energy, clothes, etc. But more and more Americans are producing “sexual harassment training” and other items that don’t raise living standards, things which no one would buy. And the rest of the world has taken those jobs, and now produces those things.

    Anyone who could ace Econ 101 can understand this. But Paul Krugman either can’t understand it (in which case Captain Nobel Prize is a fool) or he is LYING, because his role is as a propaganda expert in economics, a tool of the corrupt marriage of government, big business, and the war machine.

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