nobel prize

ok go on.

economist

bye

It always makes me laugh because it's not even a real Nobel prize
- incredibly true statement
Not that the Nobel Peace Prize or the Nobel Prize in Literature isn't political horse shit half the time...

We did it. The price of food went from "not cheap" to "holy shit" and its still at "holy shit". We won.

Now everybody needs to stop asking for those fucking raises.

A chicken burrito at Taco Johns costs 7 fucking dollars.
- i saw the smallest boxes of the same type of cereal i used to eat as a kid at the grocery store today. $3.99 for a 7.9 oz box of count chocula which was on sale. Pretty sure when I was a kid the boxes were at least twice that size, probably more, and were cheaper by at least $1
I'm just glad we didn't give everybody raises. These economists clearly were right when they said if everybody got a raise inflation would be insane.
Instead we just had massive inflation at the same wages so everybody is fucked.
It's still wild here in Europe too, cooking oil went from 2 to 6 dollars for a liter and only went down to like 5 recently. I haven't deep fried a single goddman thing in 3 years

Wow, great news for off-grid homesteaders living in the middle of fucking nowhere and literally no one else

Laughs in price of agricultural inputs

Literally a Babylon Bee article...

I recently saw the phrase 'food insecurity' and while I've heard it before, I never realized how weird of a phrase it was. It's poverty, food insecurity is the definition of poverty. But because people have phones or something it doesn't count as poverty?

I never realized how weird of a phrase it was.
I never googled "food insecurity" because I could imagine what the definition was. But check out the third sentence on the health.gov page. Emphasis mine.
Food Insecurity - Healthy People 2030
Food insecurity is defined as a household-level economic and social condition of limited or uncertain access to adequate food. In 2020, 13.8 million households were food insecure at some time during the year. Food insecurity does not necessarily cause hunger, but hunger is a possible outcome of food insecurity.
And look at the phrasing - "13.8 million households". How many people is that?
--
Libs love terms that they can use to make something they don't want to think about more abstract. In this case - they can avoid having to use sentences like this...
They don't get enough to eat.
They don't have enough to eat.
Sometimes they don't have enough to eat.
And libs don't want to seem cruel and dismissive so they would like to avoid...
Sometimes they are forced to skip meals because they don't have enough money.
Sometimes they go hungry because they don't have enough money.
Enter "food insecurity". Voilà!
They suffer from food insecurity.
No mention of troublesome words like eat, meals, money, hungry or god forbid hunger.
- It sounds more like a disease that unlucky or careless people might contract than a very societal rot foisted on the most vulnerable from the sheer greed of the least vulnerable.

WHAT ELSE IS THERE

legitimately this makes me feel so much despair

Yachts, exotic animals, Fabergé eggs, precious metals, artisanal cocaine... Normal stuff that you'll need in any household.
- islands, art, human slaves, etc
There’s used boats! And video games! And amusement parks!
- Used boats? Are you poor or something?

Bullshit prize winner in fake “science” says dumb thing, more at 11

: "Please, I just want a house. I'm willing to pay for it and everything, but why are your asking for a million dollars for each?"

: "Awww, look at the dumb naive kid who doesn't understand that it's just a sign the economy is going well, you wouldn't want to hurt ThE eCoNoMy, would you?"

you wouldn't want to hurt ThE eCoNoMy, would you?
I would like my full time job to cover the expense of shelter plz. Around 2 grand a month should really cover bills.

Economists are the high priests of capital

I don't know what's funnier, this

Or this

He is literally the zombie 😂
- Which makes it even more impressive that he won the Nobel Prize that year.
To be fair, the Internet's impact on the economy is much less than people assume, especially if you compare it to things like electricity, which did radically transform the economy.
- The internet is a product of electricity, soooo, yeah.
You can have that title, or winner of the Nobel prize on the cover, not both.

Krugman won a Nobel prize? Lmao

No, just the economics wanna-be Nobel prize
Peter Nobel describes the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel as a "false Nobel prize" that dishonours his relative Alfred Nobel, after whom the prize is named, and considers economics to be a pseudoscience.
- It's so perfect that the econ Nobel is a knock-off for marketing purposes
- Not to be confused with the "joke nobel", the one that was once awarded to Kissinger.
Traditional theory builds on the idea that countries differ in resources like capital and labour, thereby explaining why poor countries export agricultural products and import industrial goods from richer countries. But traditional theory does not explain why, in reality, world trade is dominated by rich countries trading similar goods with each other. For instance, a country like Sweden exports Volvo and SAAB cars but also imports BMW and Toyota cars.
there's some interesting work to be done to understand why krugman was given a nobel prize, from a marxist-leninist viewpoint. his work ultimately serves to justify imperialism, to provide a naturalistic explanation for the disparity between rich and poor countries, and thereby obfuscating the role that neocolonial violence plays in suppressing wages and extracting resources for the benefit of the imperial core. and that the nobel prize committee serves to glorify and reinforce this practice for aspiring economists, as a means of ensuring their loyalty to the regime's ideology and stamping out heresy by withholding their imprimatur.
his award lays bare the farce that is the nobel prize. lmao indeed.

Vampire gang stays winning. Garlic becoming too expensive to use as a weapon. Nobody has a home so you don't need permission to enter.

Mr Burns' Sun Blocker forthcoming

Mark my words: The Amish will survive us all.

I'm more convinced it'll be the Mormons. They're far more tightly organized than the Amish.
- While I agree about organization, the Mormons are too dependent on the Technological Industrial Society
- The mormons in Chihuaha (mexico) are loaded, they have these huge communities that produce every food product, grains/vegetables/fruit/meat/dairy you call it.
The Amish are pretty entrenched in capitalism too. They tend to be artisans instead of proletarians but they shop at Walmart and have their brick and mortar businesses starved just like everyone else.
- yeah anyone who thinks they're self-sufficient has never worked at grocery store in a small town near where Amish or other similar groups like the Mennonites or Hutterites live. When they come in they come in 20 strong in giant vans you don't see any other time. Then they come wipe out half the shelves you just stocked and load it all up in those vans and they're gone until the next month or so.

This guy made the rounds all through 2016 bashing Bernie and his policies for being unrealistic and lacking pragmatism. Wtf is this?

Lin-Manuel Miranda could write a musical called Bernie.
--
[Lin-Manuel Miranda plays Professor K who enters from stage left. He immediately starts to rap.]
I'm here to econ-ed-u-rap. Bring the economics knowledge and hit ya with a rap.
I won the Nobel Prize for Economics which doesn't scan right but...
[Chorus] It's important (Important)
[Professor K] Bernie's ideas are unrealistic and lack pragmatism. I'm sorry to say.
[Chorus] Sadly true (true)
[Professor K] The way to do it is Bidenomics.
[Chorus] Yay! Bidenomics! Yay!
- If only we could afford to throw rotten tomatoes again...

If you exclude everything the average American needs to survive, Bidenomics totally fixed the entire economy!

as long as you don't need food, protection from the elements, or warmth, Bidenomics works for you.

pile of currency begins cheering

The US is just the UK if it was Tories vs the BNP.
Dems are literally pulling the Tory trick of telling the dumb poors that everything is actually going well, and they're just too stupid to realize. Sure, they have to take one for the team and learn to live in austerity, but when the poors have stuff, the economy will implode.

Every time Krugman opens his yap I experience the rage all over again from his gaslighting during Bernie's first run that was an obvious ploy for a position in Clinton's cabinet (that he probably would have got if she won). As bad as the Bond villain that was Steve Mnuchin was, I think there's a solid argument that Krugman could and would do much more damage as Treasury Secretary.

Steve Mnuchin wasn’t a Bond villain he was a Saturday morning cartoon villain. Riding helicopters around everywhere with his cartoonish gold digging wife, holding large sacks of money and grinning

no more half measures walter

Their whole thing is line go up but they can't even do that and are coping by just drawing scribbles on walls with crayons

"Line go up" as long as you were the ones who get to draw the line.

The GDP still looks really weird though (excluding money, nationality, assets and used cars).

"People murdered by Nazis ex Jews, LGBT, Leftists, Political Opponents, and the Disabled."

Michael Hudson talks shit about Krugman all the time and it’s hilarious

I started looking around to find some examples and I'm having a blast
MICHAEL HUDSON: It’s not a straw man argument; it’s deliberate ignorance. You have to really have tunnel vision and not understand the most basic economic history to make the misrepresentations that Krugman said.
And if I hadn’t met him, and I didn’t know how really stupid he is as a person, I would think he’s deliberately lying, but I have met him and he really is that stupid.
continues at https://www.nakedcapitalism.com/2023/05/ny-times-is-wrong-on-dedollarization-economist-michael-hudson-debunks-paul-krugmans-dollar-defense.html
- That is the specific statement I remember lol, I watched the video embedded on that page. If you haven’t already, I suggest reading/listening to the whole thing because it’s quite funny yet informative.
  So Krugman doesn’t understand the difference between paying a domestic debt and paying a foreign debt. And that’s because he doesn’t understand foreign trade.
  If he understood foreign trade and debt, he never could have won a Nobel Prize. A precondition for winning the Nobel Prize is not to understand how international finance works so that you can act to preserve the kind of financial superstition that’s taught in the universities like the University of Chicago.
He is so respectful to everyone except this ghoul 😂

Lol this has to be satirical right? Also i remember Hudson calling this dude a dumbass 😂

Lol this has to be satirical right?
No. It's real.
- that's just krugman's entire persona
  one might even say it's all fax no printer : )

Well, if you just round up, everybody's a millionaire. Great work, Biden!

What is this fiction lmao 📉📈

You kids and your need for shelter and food. Back in my day we ate hats and slept under a bottle cap.

Inflation and corporate opportunism causes goods and services to become wildly expensive.
Discretionary spending collapses due to exorbitant costs, but essential consumption remains steady or increases.
Cost of extraneous goods and services decreases due to reduced demand.
Paul Krugman narrows CPI to exclude 50%+ of household consumption, focusing only on commodities with falling demand.
Victory declared.

"You know, if you exclude goals scored, my team won!"