Krugman- Not Enough Inflation......

[MMC]

No, the real reason the attacks on Mr. Bernanke from the right are so destructive is that they’re an effort to bully the Fed into doing exactly the wrong thing. The attackers want the Fed to slam on the brakes when it should be stepping on the gas; they want the Fed to choke off recovery when it should be doing much more to accelerate recovery. Fundamentally, the right wants the Fed to obsess over inflation, when the truth is that we’d be better off if the Fed paid less attention to inflation and more attention to unemployment. Indeed, a bit more inflation would be a good thing, not a bad thing.

First, about inflation obsession: For at least three years, right-wing economists, pundits and politicians have been warning that runaway inflation is just around the corner, and they keep being wrong. Do you remember the tirades about “debasing the dollar” around this time last year? Do you remember the scorn heaped on Mr. Bernanke last spring when he argued that the bulge in inflation taking place at the time was just a temporary blip caused by gasoline prices and would soon recede? Well, he was right. At this point, inflation is once again running a bit below the Fed’s self-declared target of 2 percent.

True, Mr. Bernanke likes to insist that he and his colleagues aren’t affected by politics. But that claim is hard to square with the Fed’s actions, or rather lack of action. As many observers have noted, the Fed’s own forecasts indicate that while things have been looking up a bit lately, it still expects low inflation and high unemployment for years to come. Given that prospect, more of the “quantitative easing” that is now the main tool of Fed policy should be a no-brainer. Yet the recently released minutes from a March 13 meeting show a Fed inclined to do nothing unless things take a turn for the worse.....snip~

http://www.nytimes.com/2012/04/06/op...tion.html?_r=3

Looks Like Now Krugman gets that point on inflation. Day late and a dollor short brutha. Yet this douche-bag wants more Quantative Easing. Can you believe it.....More QE? Spend spend spend. Krugman has lost his head. He is to busy worried about getting aatcks off on those from the right. They should drop him from the NY Times. He is not concenered about economics anymore. It's all about his loyalty to those on the left. Thoughts?

[keyser soze]

He's been right so far...have you read The Shock Doctrine? Here's some video....this is what's being done here and around the world...it doesn't benefit the people.

If you watch on youtube you can see there are 6 parts, each numbered in the right hand margin.

[Mister D]

"The people". lol

[keyser soze]

We're a democracy, like it or not.

[MMC]

Hes been right about what? Nothing but how much more everything is costing people. Krugman is nothing more than a left-wing liberal that thinks spending is the way to get out of debt. Now he just rails at what he calls economists on the right. Even if they are independant.

This guy is like the type to tell you to use your credit card to pay your bills. While adding all that interest to it. Hey the bill gets paid.....huh? Yet it didn't get rid of the debt now did it. Just added more to it. Pay more than one should. Is that how people want to defend Keyensian Economics?

[keyser soze]

He's more than that but you'd never recognize it. Have a nice day....

[MMC]

He's more than that but you'd never recognize it. Have a nice day....

I don't need to recognize anything but the basics. But then again being a supporter of the DNC and throwing out those 2500 dollar checks to people does kinda put him in a certain perception.....huh? He must of forgot what John Kennedy Said. Oh, and you have a nice day to.

I got the sun out shining by me and and its going to be 65-70 degrees. That helps!

[Peter1469]

Krugman is a bucket carrier for the DNC. He has stopped writing about real economics a long time ago. He does manage to write two articles a year that I agree with.

[waltky]

U.S. data point to strong domestic demand, stirring inflation...

U.S. retail sales point to strong domestic demand
June 14, 2016 - U.S. retail sales rose strongly in May as Americans bought automobiles and a range of other goods, even as they paid more for gasoline, suggesting that economic growth was gaining steam despite a sharp slowdown in job creation.

Other data on Tuesday hinted at a steady build-up of inflation pressures, with import prices recording their largest increase in just over four years in May as the drag from a strong dollar and lower oil prices fades. "As has been the case in the prior two years, the modest first-quarter disappointment in consumer spending now appears to be a short-lived soft patch," said Michael Feroli, an economist at JPMorgan in New York. "This number also lends credence to the idea that the big miss on May payrolls may have been sending an overly pessimistic signal on growth."

The Commerce Department said retail sales increased 0.5 percent last month after surging by an unrevised 1.3 percent in April. The second straight month of gains boosted sales 2.5 percent from a year ago. Excluding automobiles, gasoline, building materials and food services, retail sales rose a solid 0.4 percent last month after an upwardly revised 1.0 percent increase in April. These so-called core retail sales correspond most closely with the consumer spending component of gross domestic product. They were previously reported to have risen 0.9 percent in April. Economists had forecast both overall retail and core sales gaining 0.3 percent last month.

A woman carries shopping bags while walking in lower Manhattan borough of New York City

In a separate report, the Labor Department said import prices increased 1.4 percent last month, the largest rise since March 2012, after advancing 0.7 percent in April. In the 12 months through May, import prices fell 5.0 percent, the smallest decline since November 2014. The dollar's surge and a plunge in oil prices between June 2014 and December 2015 had dampened inflation. But with the dollar weakening 1.5 percent against the currencies of the United States' main trading partners this year and oil prices near $50 per barrel, that drag is starting to lift. The signs of fairly healthy domestic demand and rising imported inflation will likely be welcomed by officials at the Federal Reserve, who convene for a two-day meeting starting on Tuesday.

While May's weak employment report has all but ruled out an interest rate increase at this meeting, the steady flow of upbeat economic reports keeps a hike in July on the table. The economy added only 38,000 jobs in May, the smallest gain since September 2010. "This won't spur the Fed to raise interest rates tomorrow, but it could cast a more positive tone on the statement... setting the stage for an increase in July," said Sal Guatieri, a senior economist at BMO Capital Markets in Toronto. The dollar rose against a basket of currencies, while U.S. stocks fell. Prices for U.S. government debt rose marginally.

STRONG CONSUMER SPENDING EYED

[MisterVeritis]

We're a democracy, like it or not.

Really? What country?