Contra Krugman, episode 34.

Welcome to the podcast that takes apart Paul Kruikman's New York Times column.

Join us as Tom Woods and Bob Murphy teach economics by uncovering and dissecting the arrows of Krugman.

Nobel Prize winner, newspaper columnist, and Destroyer of Nations.

It's time for Contra Krugman.

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if you haven't already, to peruse sample issues of the Lara Murphy Report, available at

contracrugeman.com slash LMR. That's our monthly financial publication. I think you'll enjoy it.

Hi, everybody. Welcome to another episode of Contra Krugman. I'm Tom Woods with Bob Murphy.

And Bob, I have to tell you, when you emailed me to say which column we ought to do this week, I hadn't looked at them yet.

And you said, I think we ought to do the one on European diabetes. And I thought, oh my gosh, what does he think

I know everything? How am I going to know anything about European diabetes? But of course,

it's just a metaphor that Krukman is using. Yeah. I mean, of course, we're experts on

American diabetes, but not European. I mean, that's a whole different data set. Yeah, right. But, man, come on, for heaven's sake. I don't know what's going on in Latvia with regard to diabetes, for heaven's sake.

So it turns out that it's called the diabetic economy.

And it's the May 2nd, 2016 column.

And, you know, I think in summarizing this column, it's not necessary to go through every single point because the

overall point of the column, which Krugman wrote from Lisbon, he's saying that things are

terrible in Portugal, not quite as terrible as they were a couple years ago. Same thing can be said

about the European economy as a whole. The column in general is really deploring the fact that,

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