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“Take out the baseball bat on Paul Krugman”

"Take out the baseball bat on Paul Krugman"

Courtesy of Tim Iacono at The Mess That Greenspan Made

Economist Steven Roach of Morgan Stanley Asia has some not-so-kind words for economist Paul Krugman and his view that the Chinese currency should be allowed to strengthen considerably from its current level.

Says Roach: "America doesn’t have a China problem, it has a savings problem… We should take out the baseball bat on Paul Krugman. I mean I think that the advice is completely wrong …. We’re lashing out at China rather than tending to our own business".

According to this report, Krugman replied, "I’m a little surprised at Steve for saying that. What I said is actually based on pretty careful economic analysis. We have a world economy which is depressed by China artificially keeping its currency undervalued." 

*****

Support to Steve Roach via Zero Hedge:

Hey Paul, what about the fact that the world would have been below a "depression" state, had China not been the defibrilator that kept the heart of the catatonic global economy beating for the past two years. Is there a chapter in the "Pretty Careful Economic Analysis" textbook on selective fact cherry-picking? Right, we figured. In the meantime the NYT’s potential "paywall" content is rapidly amortizing to the point where people will soon have absolutely no desire to pay for the NYT’s "expert" paid-for opinions. Which means Goldman is about to put the NYT on the conviction buy list.


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