BUST: How Paul Krugman Flip-Flopped from Prophesying ‘Biden Boom’ to Defending ‘Not So Bad Economy’


by Joseph Vazquez at newsbusters.org

The so-called ‘Biden boom’ that New York Times economics columnist Paul Krugman has repeatedly foretold clearly never materialized. Now, he’s desperately trying to move the goalposts.

Krugman’s April 27 headline said it all: “Joe Biden and the Not-So-Bad Economy.” The columnist deluded himself. Krugmant claimed that he is “dreading the political crystal ball-gazing” that inevitably develops every election cycle. But he didn’t bat an eyelash about brazenly whipping out his faulty economic crystal ball to once again gaslight Americans on President Joe Biden’s abysmal economy. [Emphasis added.] 

“Much political discussion, it seems to me, is informed by a sense that the economy will be a major liability for Democrats — a sense that is strongly affected by out-of-date or questionable data,” Krugman bleated. “The overall situation is, well, not so bad.” That’s quite an astronomically different reality compared to the prophecy Krugman burped out in November 2020 before Biden took office: “Making the Most of the Coming Biden Boom.” He was adamant then that it was a “good bet” that the “economy will come roaring back” once the Biden admin supposedly got a handle on the COVID-19. Reality clearly wasn’t kind to Krugman … again.

But it gets more ridiculous. Just a few months into Biden’s presidency, Krugman proclaimed in July 2021 how it was “Morning in Joe Biden’s America.” Now, he’s throwing his hands up and hedging that he’s “not predicting a ‘morning in America’-type election; such things probably aren’t even possible in an era of intense partisanship.” However, Krugman still grasped at whatever he could to salvage the left’s economic messaging: “But the idea that the economy is going to pose a huge problem for Democrats next year isn’t backed by the available data.” [Emphasis added.] 


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