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Paul Krugman Declares Personal Bankruptcy

Paul Krugman Declares Personal Bankruptcy

"Economist and columnist Paul Krugman declared personal bankruptcy today following a failed attempt to spend his way out of debt.

In a Chapter 13 filing to the United States Bankruptcy Court in the Southern District of New York, lawyers for Krugman listed $7,346,000 in debts versus $33,000 in assets.

Rather than tighten his belt and pay the sums back, the pseudo-Keynesian economist decided to "stimulate" his way to a personal recovery by investing in expenses he hoped would one day boost his income."

ROTFL!

AT.