KRUGMAN: It's Amazing How Idiot Inflation Scare-Mongers Just Refuse To Admit They're Wrong

Krugman Inflation

Photo: Paul Krugman

There has been a new bout of inflation fears recently.This follows a bout of inflation fears last year.

And the year before.

And the year before.

Each time, the temporary uptick in inflation that “inflationistas” have touted as the first sign of impending doom has faded away, leaving muted inflation.

At the beginning of the financial crisis, when the Fed first started printing money, and inflation fears first took hold, economist Paul Krugman pushed back. He argued that we were in a “liquidity trap” in which we were unable to use newly printed money–and, therefore, that the Fed’s money printing was nothing to worry about.

And, so far, Paul Krugman has been right.

The prices of some commodities, especially oil and gold, has soared, but overall inflation has remained muted. (Not non-existent, by any means. But certainly not runaway hyper-inflation.)

Maybe, someday, the inflation scare-mongers will be right, and the dollar’s value will be reduced to that of toilet paper.

But, for now, Krugman’s winning.

And today, with the chart above, he reminded everyone of that.

SEE ALSO: Oh, Please, Krugman’s Nuts–There’s Inflation Everywhere!

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