Contra Krugman

Latest Episodes:

Ep. 225 The Final Episode Jun 10, 2020

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On this final episode of Contra Krugman after nearly five years, we analyze Krugman's horrified response to state reopenings after the lockdowns.

Show notes for Ep. 225

Ep. 224 Krugman Bravely Comes Out Against Killing Workers May 23, 2020

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With his usual magnanimity, Krugman declares that the epidemiologists have been completely accurate in their warnings during the pandemic, whereas those who want to reopen the economy are trying to kill workers. Tom and Bob beg to differ.

Show notes for Ep. 224

Ep. 223 Krugman Unwittingly Agrees the Fed Has Driven Stock Market Since 2007 May 11, 2020

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In his attempt to praise Powell and criticize Trump, Krugman admits that the "real economy" is in terrible shape, and that the stock market has done well only because of low interest rates and the Fed's emergency actions. Krugman says this pattern holds not only for our post-covid world, but ever since the mid-2000s. He thus ironically agrees with Austrian critics who've warned for years that the Fed was blowing up massive asset bubbles.

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Ep. 222 Why Won't We Listen to the Experts? Apr 26, 2020

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Krugman is unhappy that the "right wing" is more apt to listen to people he considers quacks than to people he considers experts, and he says the COVID-19 problem is yet another example. We are unconvinced.

Show notes for Ep. 222

Ep. 221 The Destructive Coronavirus Response, Cheered by Krugman Apr 11, 2020

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Guest co-host Richard Ebeling -- who was one of Bob's own economics professors -- joins me to discuss Krugman's qualified support for the $2 trillion coronavirus relief bill recently signed into law, and why we shouldn't be cheering.

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Ep. 220 Coronavirus Economics Mar 29, 2020

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This episode delves into all the key questions surrounding the economics of the coronavirus crisis: bailouts, Federal Reserve policy, payments to individuals, the effects of the shutdown, and more.

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Ep. 219 Krugman Wants Perpetual Deficits Mar 14, 2020

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In a perhaps surprising move for someone who said "deficits matter again" upon Trump's election, Krugman now makes the case for perpetual budget deficits in the range of 4% of GDP. This will facilitate much-needed "stimulus spending" in an era of weak growth and low inflation. Tom and Bob point out the fallacies in this thinking.

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Ep. 218 We Need Financial Regulation, Says Krugman Mar 01, 2020

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What really matters, says Krugman, is financial regulation. And only Elizabeth Warren can deliver, because Bernie will expend his political capital on unwinnable issues, and Bloomberg's heart isn't in it. We respond, as usual.

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Ep. 217 Do Deficits Help Depressed Economies? Feb 16, 2020

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Krugman complains that during the Obama years, when deficit spending was desperately needed, obstructionist Republicans opposed it out of what they claimed was principle, but was mere spite. Now, he says, with a Republican in the White House, they couldn't care less about deficits. What's really going on here? That's our topic for this episode.

Show notes for Ep. 217

Ep. 216 Krugman Hearts Greta Thunberg Feb 03, 2020

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Krugman says Greta Thunberg is closer the economics mainstream than are her critics. Quite a few whoppers to deal with in this one, as you can surely imagine.

Show notes for Ep. 216

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