According to left-wing experts, price limits are the ideal remedy to Joe Biden’s soaring inflation. Fidel Castro, Hugo Chávez, the Chicoms, Zimbabwe, and the Soviets transformed their countries into communist paradises. For example, this one from a low-level wokester scholar spewing her “knowledge” to millions of other lefties in the pages of the left-wing Guardian.
Despite his “wrong way” career as an economic commentator, Krugman appears to have residual standards as an economist. He took down his tweet and, amusingly enough, apologized for it in the interests of politeness. It sparked outrage on Twitter, and liberals were outraged. Then he reverted to Krugman, the Democrat shill, deleting his tweet once more.
Krugman isn’t known for being courteous to others, and this is likely the first time he’s made a charge like this about Joe Biden. It’s more probable that someone whispered into Joe Biden’s ear that he was getting guidance from someone who favors these awful, guaranteed-to-fail price-control proposals. Joe’s desperation about growing inflation in the United States is widely documented, with costs of essential products such as beef, bacon, gas, electricity, medication, and medicine eating into consumer wages.
President Biden’s economic troubles were caused by his money-press economics, as he used the Federal Reserve’s printing machines to fund his massive government handouts and bureaucracy hiring sprees. He might be trying for a quick fix to appease enraged voters before the November elections.
Moreover, according to Krugman, price controls are a terrible concept. Everyone who has lived through them can attest to the corruption, shortages, factory closures, job losses, and disarray that this dreadful effort to manage markets has brought about. Price restrictions were despised by John Maynard Keynes, from whom Krugman claims to draw his instructions.
Paul Krugman’s outburst has shown whether or not he still believes price restrictions are a good idea. He got it right the first time, and now we all know what he feels about this nonsense. He’s now taking a detour because he’s worried about his social standing. However, that horse has bolted from the stable. Joe Biden and his far-left entourage had better have some morals.