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Paul Krugman: ‘Nobel’ Laureate

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  1. #1

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    Paul Krugman: ‘Nobel’ Laureate

    Recent columns and multimedia by Paul Krugman of The New York Times. ... Paul Krugman joined The New York Times in 1999 as a columnist on the Op-Ed Page and continues as professor of Economics and International Affairs at Princeton

    Daily Courant:
    Quote" Economist and columnist Paul Krugman declared personal bankruptcy today following a failed attempt to spend his way out of debt.

    In a Chapter 13 filing to the United States Bankruptcy Court in the Southern District of New York, lawyers for Krugman listed $7,346,000 in debts versus $33,000 in assets.

    The majority of his debts are related to mortgage financing on a $8.7 million apartment in lower Manhattan, but the list also includes $621,537 in credit card debt and $33,642 in store financing at famed jeweler Tiffanys and Co.
    The filing says that Krugman got into credit card trouble in 2004 after racking up $84,000 in a single month on his American Express black card in pursuit of rare Portuguese wines and 19th century English cloth
    Rather than tighten his belt and pay the sums back, the pseudo-Keynesian economist decided to "stimulate" his way to a personal recovery by investing in expenses he hoped would one day boost his income." Unquote. .

    About | The Daily Currant
    dailycurrant.com/aboutThe Daily Currant believes that satire can be an important tool for raising awareness of important political, social, and economic issues. On selected articles we include links to NGOs who are trying to solve the problem at the heart of the article and ...


  2. #2

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    The story is fake.

    http://www.businessinsider.com/paul-...spreads-2013-3

    Conservative News Site Breitbart.com Duped By Fake Story That Paul Krugman Declared Bankruptcy

    Read more: http://www.businessinsider.com/paul-...#ixzz2NIKQSmQQ

    I loved the line though:

    Rather than tighten his belt and pay the sums back, the pseudo-Keynesian economist decided to "stimulate" his way to a personal recovery by investing in expenses he hoped would one day boost his income." Unquote.
    Last edited by Football16; 12-03-2013 at 12:00 PM.

  3. #3

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    Loved it too, but the same line had to be the dead giveaway about the story being real.


  4. #4

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    The issue is not so much that it is fake as readers of the Daily Currant would know but how fast it gets picked up by even main stream media in the 24 hour a day news cycle where being first is more important than being correct. Except, of course if you are caught just plain wrong.

    My high school journalism instructor - brilliant teacher - told us this joke that about the newspaper business and how they'd say - "If this isn't correct, it will be when it hits the front page of tomorrow's paper."


  5. #5

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    He should have called Suze Orman.


  6. #6

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    Quote Originally Posted by walkup:
    He should have called Suze Orman.
    What he actually did do on this when he first was made aware of the phoney article written in jest was absolutely SFA - nothing. He waited for the mainstream media to pick it up as several writers did IIRC as Krugman like others including Stiglitz have been at odds with US monetary policies - not all in exact synch- for some time and their enemies would love to find something to discredit these critics with.