Since Ron Paul is surging in the polls, Paul Krugman has decided to go on the attack. Since the official rate of inflation is relatively low right now, that is “proof” that everything Dr. Paul has been saying about the economy is wrong and that Krugman is right. Now, Krugman has struggled to explain why commodity prices have continued to climb (although they have temporarily fallen from their “historical highs” in the last half of the year), resorting to what I call the “Jake Blues Theory” of inflation, in honor of Jake’s set of mutually-exclusive excuses while explaining to his … Continue reading Paul Krugman: Ron Paul ‘Understands Nothing’ About Money