Friday, December 2, 2011

Must read: Deficit weenies are marching the world into a swamp

Paul Krugman -- yeah, the Nobel-laureate economist that isn't as good an economist as any given Republican, apparently -- has a new op-ed in the NYT on how Europe is bravely marching the wrong way on its debt crisis, and likely taking us with it. As has happened so often in the past, I fear we'll be looking back on this as prophecy in a few years.


Mia Connolly said...

I get it for the most part, but gawd I hate economics. Add a bean here, take a bean there, and oops! Tip! It gets more complicated by the day and my brain goes AAAAAHHHHH when I'm trying to get it. It's the whole inflation/deflation/interest rate/value-of-the-dollar part... Thank you for posting this though!

Zig E. said...

I remember when Paul warned against going to small with the stimulus plan. I think his concern was that if it was to small it wouldn't work, would just run up the debt, and then lead to what Japan called their lost decade. Seems like another example of not listening to those who know what their talking about and instead listening to politicians, particularly those on the right.
But I agree with Mia - bean counting is a pleasure I just don't get.