Ep. 223 Krugman Unwittingly Agrees the Fed Has Driven Stock Market Since 2007
Contra Krugman with Bob Murphy and Tom Woods
In his attempt to praise Powell and criticize Trump, Krugman admits that the “real economy” is in terrible shape, and that the stock market has done well only because of low interest rates and the Fed’s emergency actions. Krugman says this pattern holds not only for our post-covid world, but ever since the mid-2000s. He thus ironically agrees with Austrian critics who’ve warned for years that the Fed was blowing up massive asset bubbles.
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Contra Krugman is a weekly podcast, available on iTunes and Stitcher, that critiques the New York Times column of economist Paul Krugman. Hosts Bob Murphy and Tom Woods belong to the Austrian School of economics, which includes such luminaries as Ludwig von Mises, Nobel Prize winner F.A. Hayek, and Murray N. Rothbard. (Learn more about the Austrian School at our special resource page.) Become more knowledgeable about economics in just 30 minutes a week by listening to Contra Krugman!