Just when you thought that Paul Krugman couldn’t get anymore silly, he publishes an op-ed in the New York Times that states the infamous hyperinflation of 1923 in Germany wasn’t the primary cause of bringing Adolf Hitler to power. Instead, it was the policy of “hard money and gold obsession.”
“No, the 1923 hyperinflation didn’t bring Hitler to power; it was the Brüning deflation and depression. Hard money and a gold standard obsession, not excessive money printing, was the proximate disaster,” wrote Krugman, who also believes a space alien invasion will create economic prosperity.
For anyone who has studied history and the effects of inflation, the primary questions that should be asked of Krugman: would he have liked even more money printing in the Weimar Republic? Wasn’t it bad enough that people had to stroll around with wheelbarrows of money just to purchase a loaf of bread? Would Federal Reserve Chairman Ben Bernanke’s helicopter of money saved Germany from an oppressive and tyrannical government?
If he wants a modern day example of how disastrous hyperinflation is then he should head over to Zimbabwe.
It seems as if Krugman writes these op-eds just to troll his dissidents. Let’s hope that he doesn’t believe these asinine writings and they are only satirical.