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Paul Krugman Files Chapter 13 Bankruptcy
Published : March 08th, 2013
217 words - Reading time : less than a minute
( 11 votes, 3.4/5 ) , 4 commentaries Print article
 
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Keywords :   Austria | Creditors | Krugman |

Paul Krugman, the king of Keynesianism and a strong supporter of the delusion that you can print your way out of debt, faces depression at his very own doors.


According to this
report in Austria's Format online mag, Krugman owes $7.35 million while assets to his name came in at a very meager $33,000. This will allow the economist and New York Times blogger to get a feel of how the majority of Americans go about their dreadful lives without any savings and a social system that will only shed pennies to him.
Krugman's list of debts shows a stunning similarity as to what's wrong these days.


The biggest chunk is related to a $8.7 million loan for his Manhattan condo, followed by $621,000 in credit card debt. Krugman probably is not seen of 5th Avenue anymore. Among his list of creditors, Tiffany's stands out with a $33,000 in open collections.


Things really went downhill for the star economist. His Manhattan residence lost 40% in value and makes one wonder how can somebody do so bad in the best of all US property hotspots.
Krugman went deeper into the red by impulsive shopping splurges, throwing his money after Portuguese wines and British dresses from the Victorian period, flattening his Black Amex card by $84,000 in one month.


 

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Rate :Average note :3.4 (11 votes)View Top rated
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DAMN, how disappointing, I enjoyed the thought with fiendish delight......what's the old saying? "If it sounds too good to be true, then it probably isn't....."  Read more
finespecimen - 3/11/2013 at 5:40 PM GMT
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The Prudent Investor

Toni Straka is an INDEPENDENT Certified Financial Analyst (OeVFA, EFFAS) who worked as a financial journalist for 15+ years and now evaluates global market trends. Analyzing financial and political news permanently he wants to share his insight with those who understand that we are in an era of global redistribution of wealth. The US-European centric approach does not work anymore. Five billion people in the developing countries now demand their fair share of the world's resources.
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The Austrian source article cited is SATIRE -- the Austrian version of The Onion, essentially. Still, it's excellent satire!
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DAMN, how disappointing, I enjoyed the thought with fiendish delight......what's the old saying? "If it sounds too good to be true, then it probably isn't....."

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This Paul Krugman was crushed with that hoof & mouth disorder of `spending like there`s no tomorrow`. Where as Ron Paul who won the debate between the two Paul`s: Ron Paul vs Paul Krugman. In both theory and in life Ron Paul has won. Though his portfolio is heavily weighted with precious metals of Gold & Silver of about $2.4 - $5.5 million , both in the physical metals, not those losers of ETF`s, but also in some 23 other miners many of them small Canadian risky juniors -- So what, Ron Paul at least has some money to his name unlike Krugman has only debt. All Krugman has to do to get more fiat money is `lie` some more for the powers that be, the owners of the FED, then he will be flush again. http://www.businessinsider.com/the-ron-paul-portfolio-has-been-getting-crushed-2013-3
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.....Oh, this is priceless....... (that is, Krugman clearly doesn't sweat the PRICE when he plops down his Visa). How can we get the MSM to bite on this rich tidbit? Alas, not likely.
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