I used to think Paul Krugman was one of the good guys.
Well from the looks of things he has moved over to the dark side.
He now thinks deficits and debt are good, and politics are bad.
Let me let you in something.
Deficits, Debt and Politics are all bad. No two ways about it. They all finance one thing and that is POWER and AFFLUENCE.
He states that deficits have "saved" the world.
Sorry Paul, deficits have "enabled" the world not saved it. It's just another way for the super ultra rich to re load their bank accounts at the expense of the average person.
www.nytimes.com/2009/08/28/opinion/28krugman.html?_r=1
He basis his thesis on the following:
"The numbers tell you why. According to the White House projections, by 2019, net federal debt will be around 70 percent of G.D.P. That’s not good, but it’s within a range that has historically proved manageable for advanced countries, even those with relatively weak governments. In the early 1990s, Belgium — which is deeply divided along linguistic lines — had a net debt of 118 percent of G.D.P., while Italy — which is, well, Italy — had a net debt of 114 percent of G.D.P. Neither faced a financial crisis."
OK, lets compare the USA to Belgium and Italy!
This is further evidence that the Noble Prize should take its rightful place next to BusineeWeek in the trash bin.
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