Well, at least Paul Krugman understands that Ron Paul is using his subcommittee chairmanship as a bully pulpit, but Krugman is claiming that it is Ron Paul who will bear responsibility for mass unemployment. In his Friday column, Krugman says that Paul is “intimidating” the Fed, which means that all of this worry about “nonexistent” inflation is going to result in higher rates of unemployment.
I cover Krugman’s latest rant in my Krugman-in-Wonderland blog post today. To be honest, I think this is only the beginning. Krugman is going to start blaming the Austrians for everything, and he is going to be claiming that we are motivated by racial hatred. Yep, pointing out inflation is racist. Only in the “elite” world of the NY Times and academe.