We asked a bunch of notable names why they thought gold falling inspired such glee.
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Earlier we did a post on the phenomenon of "Goldenfreude" which means taking pleasure at the collapse in gold prices.
One of the responses we got was from Paul Krugman, whose answer was pretty solid:
Well, the inflationistas/goldbugs are really, really annoying -- all this air of having the secret wisdom when they actually haven't a clue. And they have been a real destructive factor in policy debate, standing in the way of effective policy by raising fears of Weimar and Zimbabwe. So seeing the one thing they got right -- betting on higher gold prices -- turn sour is cause for a bit of celebration.
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