Economist Paul Krugman Slams CNBC as Terrible for ‘Financial & Intellectual Health’

Filed in Gather News Channel by on November 23, 2012 0 Comments

Economist Paul Krugman is not a fan of the television network CNBC.

The nobel-prize winner spoke out against the network in his blog post on Wednesday, telling viewers, “don’t spend too much time watching CNBC,” adding that it was “bad for your financial and intellectual health.” Krugman has made controversial posts on his blog before, one notable example back in August when he said that Niall Ferguson’s article about President Obama in Newsweek needed to be retracted. It isn’t even the first time that he’s gone after CNBC.

Paul Krugman 2 BBF 2010 ShankboneKrugman was called out by CNBC host Joe Kemen who wanted an apology from Krugman because he said that the network perpetuated “one zombie idea after another.”

Krugman was apparently inspired by an article by Ryan Chittum on Tuesday in the Columbia Journalism Review that called out CNBC for their “Rise Above” crusade. Paul Krugman said that CNBC had “gone all in on behalf of the 0.01 percent.” He went on to specifically speak to those who watch business television, saying that they were part of a certain mentality that doesn’t see “evidence.” The post has since been changed, and an editorial note about the change posted.

This war that is apparently brewing between the pundit and the network has one more part. CNBC anchor Becky Quick recently said that Krugman’s stance on the fiscal cliff was “downright dangerous.” This might not actually be a war right now, but this is pretty much how they get started. One person throws mud on another, the other person throws it back and pretty soon both sides are aiming AK-47’s and nuclear bombs at the other. Hopefully, it doesn’t progress quite to that point, even in a metaphorical sense.

Photo by David Shankbone on

Gabriel Legend covers current events for Gather News, and writes horror fiction as well. He is participating in this year’s National Novel Writing Month Challenge. You can follow him on Twitter (@GabeLegend).

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I'm a complete geek who loves all sorts of geeky stuff like technology, Star Trek and Dungeons & Dragons. I play guitar and sing a little, and I write horror fiction whenever I'm not covering the news for Gather.

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