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Paul Krugman Pushes Conspiracy Theory About New Jobs Numbers

Paul Krugman Pushes Conspiracy Theory About New Jobs Numbers

“This being the Trump era, you can’t completely discount the possibility that they’ve gotten to the BLS”

https://youtu.be/HTwWDbWQCfM

New York Times columnist and Nobel award winning economist Paul Krugman is a well-known sufferer of Trump Derangement Syndrome. When it was revealed on Friday that the jobs numbers were much better than the doomsday media predicted, Krugman floated a conspiracy theory as an explanation.

Joseph Vazquez reports at NewsBusters:

Krugman Conspiracy: It’s Possible Trump Admin Got BLS to Fudge GREAT Jobs Report

President Donald Trump’s economy proved it’s not going down without a fight. An excellent new jobs report has Keynesian New York Times economist Paul Krugman babbling about a Trump conspiracy on Twitter to make sense of it.

CNBC reported that “Employment stunningly rose by 2.5 million in May and the jobless rate declined to 13.3%,” based on Friday’s Bureau of Labor Statistics’s (BLS) report. The report “was far better than economists had been expecting and indicated that an economic turnaround could be close at hand.” Krugman didn’t appear to know what to do with these numbers, except try to speculate the “possibility” that the Trump administration has “gotten to the BLS” to fudge the numbers.

Really.

Economists surveyed by Dow Jones “had been expecting payrolls to drop by 8.333 million and the unemployment rate to rise to 19.5% from April’s 14.7%,” CNBC reported. “May’s numbers showed the U.S. may well be on the road to recovery after its fastest plunge in history.”

See Krugman’s tweet below:

What a completely normal thing to say.

Krugman eventually tried to pull it back.

Jason Furman was Chairman of the Council of Economic Advisers under Obama and even he called out Krugman.

Remember, any narrative the left doesn’t like is a conspiracy theory, but any conspiracy theory they throw out there is just fine.

Featured image via YouTube.

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Comments

I just don’t understand why Krugman still has a job, he is more often wrong about every one of his views, but then he is a liberal who pushes the agendas of the left so it’s like a pension in government.

The left is going bonkers over the positive signs in the economy, which proves again that the shutdown was more for politics and killing the economy than for health reasons. Then came George Floyd to help disprove the social distancing stuff. It removed the barriers for most states to open.

I fear what the left have planned next.

Could it be something to do with Bower evicting the National Guard while expecting huge numbers of Antifa astroturf protestors coming in to DC today?

Oh, it’s true, Trumpies have infested the entire federal government. I hope Krugman wears his Aluminum Foil Deflector Beanie to protect himself from psychotronic waves. He is a brave man.

Economists have adopted the same religion as the scientists. When economics or science fails to support their woke politics, it’s due to a conspiracy.

We are now all doomsday deniers. “Give up!!! Embrace the suck!!! Or we’ll kill you!!!”

There is a certain class of clowns the left has set up to be it ‘experts’ in all things. They get pulitzer prizes for writing lies and nobel prizex for doing nothing. Some get medical and law degrees.

obama, krugman, thomas friedman and fauci.come to mind.

“But I apologize for any suggestion that a highly professional agency might have been corrupted.”

A not-so-oblique reference to the FBI? The DOJ? The CIA? The news media?

Krugman takes a swing on the way down.

LookoutABear | June 6, 2020 at 10:59 am

If Paul Krugman is pushing it, then I can rest assured its probably not true 😉

There was always going to be a massive employment boost once restrictions were lifted.

The unemployment rate doesn’t measure the number of people out of work, it only measures the number of people actively looking for work. In weird times like these, many people might conclude there’s no point in looking for work, everything is shutdown and it isn’t safe to go out. Don’t be surprised to see the unemployment rate to go up in future reports as more jobs open back up. It would just mean that more people are lookinv

Krugman is going to blow the lid off this conspiracy, and it goes right to the top. Then he’ll be a hero.

On a side note, I don’t think I’ve ever seen anyone who was so strongly anticorrelated to reality. Everything is always the exact opposite of what he says it is.

2smartforlibs | June 6, 2020 at 11:03 am

El Krugman knows this tactic because it is what he did during the regime to make the numbers look good. U3 is under 3%. When in fact, the only number that matters now is the U6. You are not the only economist in the country commie!

The Friendly Grizzly | June 6, 2020 at 11:16 am

What a sad, pathetic little man.

Getting a lot of outraged pushback over even allowing the possibility of something amiss at BLS. I was just covering myself…

You need to cover your mouth with a Depends, it’s got the runs.

Is this the same Paul Krugman with child porn on his computer that Barr ignored?

Comanche Voter | June 6, 2020 at 11:34 am

The Krugster—almost always wrong, but never in doubt.

Krugman couldn’t find an intellectually honest position using both hands and a seeing eye dog. Still he once got a Nobel Prize for economics–which may or may not have been as well deserved as Obama’s Nobel Prize for Peace–so there is that.

Dantzig93101 | June 6, 2020 at 12:11 pm

Krugman still has a job as a columnist because The New York Times no longer cares if anything it publishes is true or not. Before he went nuts, he actually did do some good work in economics, and wrote a textbook that I used.

My hypothesis about Krugman’s thought process: Trump’s optimism and his can-do attitude have boosted the economy partly by policy and partly by what Keynes called “animal spirits:” when people feel optimistic, they invest in the future and do things that improve the present. The Covid-19 panic was temporarily successful in depressing those animal spirits, but now there’s a danger of economic recovery before the election. Encouraging job reports increase the danger. And “our team” would fake the numbers if needed, so Team America must also have faked the numbers.

Krugman is not an economist — he is a Dhimmi-crat demagogue and zealot, who dresses up his partisan rants in a cloak of fallacious economics, to give the imprimatur of alleged legitimacy.

When you subvert fact and statistics in service of ideology, you have rightfully lost all credibility and do not deserve to be taken seriously on scientific/fiscal matters. And, so it is with vile Krugman.

Escaped from RI | June 6, 2020 at 12:25 pm

If you can’t trust Senior Enron Economist Paul Krugman, who can you trust?

Will someone explain how, in a month where over 20 million people lost paying jobs and went onto unemployment there was an INCREASE of over 2 million jobs? An increase over what, exactly? An increase over the number of jobs, BEFORE, 20 million of them disappeared? Or and increase over the number of jobs AFTER those 20+ million jobs disappeared? I’m confused, here?

    txvet2 in reply to Mac45. | June 6, 2020 at 1:35 pm

    U-3 is reported month over month.

    Mac45 in reply to Mac45. | June 6, 2020 at 5:57 pm

    Well, as no one seems to know the answer to my questions I investigated and found out on my own. Apparently, the unemployment figures were taken in the first half of May, before the majority of the persons filed for unemployment insurance and some, possibly a significant number, of unemployed were not counted as unemployed at all. This is an article which seems to explain this.

    https://www.forbes.com/sites/eriksherman/2020/06/05/unemployment-jobs-may-2020-methodology/#779a17dd3f11

      The “lost” jobs didn’t go away: they were shut down by Fauci the Clown.

      Once we shed the scam, the jobs – for the most part – will come back, and American growth will continue for the reasons it was continuing pre-virus and riot scams.

      But, a lot of damage was done to small business and commercial real estate. This has to shake out.

      But look for the next swamp/left/islamic axis anarchy scam.

      Unless Barr-Boehner starts prosecuting the funders of this….Ah, forget it.

      Job one upon relection of PDJT: dump Barr-Boehner.

Albigensian | June 6, 2020 at 12:29 pm

“It’s Possible Trump Admin Got BLS to Fudge GREAT Jobs Report”

And it’s also “possible” that Krugman took a ride on a flying saucer last night. Can you prove that he didn’t?

Krugman doesn’t seem to understand the basic concept of “burden of proof” here: Krugman’s making the “possible” accusation, and therefore it’s his responsibility to provide evidence to support it.

It’s certainly no one’s responsibility to prove the negative, anymore than it would be anyone’s responsibility to prove that Krugman didn’t really take that flying saucer ride.

healthguyfsu | June 6, 2020 at 12:33 pm

Funny, In Obama’s early SOTU, he had his PR group fundamentally change the reporting to show improvement rather than the real data for unemployment. He fundamentally changed how jobs were talked about in the country. There was not even a slight pushback from the MSM, in fact, they lauded his numbers.

He didn’t get to the BLS, but he was not called out for this shift. The BLS, not Trump, reports this UE number and suddenly TDS kicks in?

No longer a veneer of objective journalism.

    DanJ1 in reply to healthguyfsu. | June 6, 2020 at 12:46 pm

    Thanks for the comment. I thought I was the only one who remembered the calculations for various unemployment metrics being changed to show better numbers for Obama. And you’re right, nobody in the compliant media questioned it for a second.

If the question is when Krugman’s sanity will recover, a first pass answer would be, Never.

Another Voice | June 6, 2020 at 12:37 pm

It is a toss up between which one was the least to be worthy of any award, let alone a NOBEL. What they have shared is the way they have both milked it for previous 11 to 12 years.

Krugman is just stinging again. The markets crashed and his November 2016 prediction was suddenly proven prophetic. Uh-Oh! New all-time records on a couple of the exchanges Friday even after the historic crash. I think that’s gonna leave a bruise on Paulie’s bona fides.

Nice to see that Krugman’s feeling better, I suppose. He was much wackier in the Bush era.

The first sentence “New York Times columnist and Nobel award winning economist Paul Krugman … ” is half correct. Krugman did not win a Nobel Prize. He won the Bank of Sweden Prize in Economic Sciences in memory of Alfred Nobel (https://www.nobelprize.org/prizes/economic-sciences/ ). Nobel’s will allowed for only the five Nobel Prizes.

Isn’t this the economist that won a Nobel Prize for being always wrong?

TennesseeRedDog | June 6, 2020 at 8:00 pm

Paul Krugman is an absolute idiot. How he won a Nobel is flabbergasting. It proves the world is run by fools.

    “How he won a Nobel is flabbergasting….”

    Obama won a nobel prize. For nothing. Literally nothing.

      Milhouse in reply to TheFineReport.com. | June 7, 2020 at 2:32 am

      Yes, but the Peace and Literature prizes aren’t serious prizes, they’ve been completely political for decades. The three science prizes, as well as the Not-A-Nobel economics prize, are serious. The committees are made up of serious people who examine the nominees carefully. Which makes it a good question how he got through their scrutiny.

Dipstick.

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