Topic: 2013-04-14 - NY Times - Antisocial Network - Paul Krugman (Read 2279 times)
Krugman is just mad because FinCEN recognizes Bitcoin as money.
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The practical misconception here — and it’s a big one — is the notion that we live in an era of wildly irresponsible money printing, with runaway inflation just around the corner. It’s true that the Federal Reserve and other central banks have greatly expanded their balance sheets — but they’ve done that explicitly as a temporary measure in response to economic crisis. I know, government officials are not to be trusted and all that, but the truth is that Ben Bernanke’s promises that his actions wouldn’t be inflationary have been vindicated year after year, while goldbugs’ dire warnings of inflation keep not coming true.
HAHAHAHA! I was laughing so hard while reading this, I was crying. Seriously, is this guy delusional? Oh, he probably lives in parallel universe where colorful paper called dollar/euro/yen/peso still worth something...NO INFLATION! I want to kick this bastard to the nuts. With construction steel toe boot. Printing these paper so called "money" is a temporary measure in response to crisis.
Either this guy is mega awesome troll with great sense of humor or mental hospital patient... That bernanke bastard is the last person I'd trust. Heck, I'd trust drug addict with my money before I trust him. If he says "no inflation, everything under control" it means "OH SHI! We might turn to zimbabwe!"
lots of Krugmanites on reddit right now:
http://www.reddit.com/r/Bitcoin/comments/1ce04u/charlieshrem_calls_out_krugman_for_a_debate/
http://www.reddit.com/r/Bitcoin/comments/1ce04u/charlieshrem_calls_out_krugman_for_a_debate/
Reading through the reader comments is downright depressing. So many sheep. This country is doomed. Only a hard reset will do.
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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.
As the rate of technological change in computing slows, the number of jobs for IT specialists will decelerate, then actually turn down; ten years from now, the phrase information economy will sound silly.
As the rate of technological change in computing slows, the number of jobs for IT specialists will decelerate, then actually turn down; ten years from now, the phrase information economy will sound silly.
- Paul Krugman, 1988
I know I can sometimes be bad at predicting things, but wowzee!
That's devastating ... the guy clearly is a technical ignoramus ... and has a terrible propensity for prediction of economic trends, who listens to him still I wonder?
Kind of sad that Nobel prize winner in economics would not understand (or intentionally abuse ) the dictionary meaning of "fiat" ...
Federal Reserve Notes form the most anti-social network of currency the planet has seen since the Roman dineros, so it is plain that Krugman doth protest too loudly ...
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since bitcoins are in a sense the ultimate fiat currency, with a value conjured out of thin air.
Federal Reserve Notes form the most anti-social network of currency the planet has seen since the Roman dineros, so it is plain that Krugman doth protest too loudly ...
Paper and shinny rocks are way better than computer files... Not a very convincing argument.
Funny that I now know more about the future of money than most economic professors.
Funny that I now know more about the future of money than most economic professors.
Disruptive Technology, enough said!
Dr. Krugman explaining the merits of gold over bitcoins. So it's come to this. Priceless.
Interestingly, gold is down almost 10% against bitcoin so far today (4/15/13). Bitcoin has been a great hedge against pretty much everything so far this year.
Interestingly, gold is down almost 10% against bitcoin so far today (4/15/13). Bitcoin has been a great hedge against pretty much everything so far this year.
Paper and shinny rocks are way better than computer files... Not a very convincing argument.
Funny that I now know more about the future of money than most economic professors.
Funny that I now know more about the future of money than most economic professors.
LOL, look at the massive wall of text in the user comments. Seems like 8/10 of them just kisses this pompous article writer's ass. What a joke.
It's all fine though, the more they write about Bitcoin, no matter in what context, the more people will know about them. And out of those people, you'll have a certain amount that actually have minds worthy of researching Bitcoin in more depth. Those are the people we need as participants in this ecosystem, not some sheep who can't tell left from right.
It's all fine though, the more they write about Bitcoin, no matter in what context, the more people will know about them. And out of those people, you'll have a certain amount that actually have minds worthy of researching Bitcoin in more depth. Those are the people we need as participants in this ecosystem, not some sheep who can't tell left from right.
You can tell the DNC has a concentrated effort to discredit bitcoin. Huffingtonpost had two articles saying how bad bitcoin was and rolled out the NYT krugman for the credibility (nobel prize) factor?
none of these guys ever seem to see a problem with 0.01% of the population owning the printing press and giving money to their buddies.
Can you believe this guy won a Nobel prize? Well, given that Obama won one, maybe it's not that surprising. Only the hard science Nobels, physics, chemistry, medicine, seem to have any credibility left.
yup
we need one with krugman
we need one with krugman
Krugman is getting funnier by the minute...
Ahahahah nice joke 
Krugman is an epic fail
Apparently, in 1988 already "ten years from now, the phrase information economy will sound silly"
Krugman is an epic fail
Where I live food cost rose 26%, the government told us that it "only" rose by 9,8%.
Paper currencies are NOT doing fine. Neither governments.
Paper currencies are NOT doing fine. Neither governments.
Quote
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.
As the rate of technological change in computing slows, the number of jobs for IT specialists will decelerate, then actually turn down; ten years from now, the phrase information economy will sound silly.
As the rate of technological change in computing slows, the number of jobs for IT specialists will decelerate, then actually turn down; ten years from now, the phrase information economy will sound silly.
- Paul Krugman, 1988
I know I can sometimes be bad at predicting things, but wowzee!
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