Posted on 09/10/2010 4:34:49 PM PDT by TigerLikesRooster
Krugman, the Doctor: I Meant to Say It's Good We're Turning Into Japan II, It's Real Good
Tim Cavanaugh | September 10, 2010
The next drink will be the one that makes you sober, Paul. In Los Tiempos de Nueva York, the economist formerly known as Pauly Krugnuts recalls his 2008 warnings that the United States economy would follow the pattern Japan's economy followed during its post-1980s recession. Most of the stimulative nostrums Paul Krugman prescribed back then have since been tried (though he believes the dosages have been too low), and nothing got better.
So without admitting any wrongdoing, Krugman has changed the question. Previously the Nobel laureate claimed that the failure of Tokyo central planners to provide more expensive stimulus caused Japan's recovery to relapse into recession. Now, however, he accepts Japan's two-decade recession as force majeure, and says that D.C. central planners should be acting more like their Tokyo counterparts:
(Excerpt) Read more at reason.com ...
P!
Krugman: Things Will Be So Awful In The U.S. If The Republicans Win That We Will Envy Japan
Non-Sequitur: And if the Democrats win then things will be so awful in the U.S. that we will envy North Korea.
Actually, I already envy the Japanese.
I envy Japan’s policy on immigration.
What a pussy!
(My husband made me type that.)
Some of the most famous leftists are in fact insane. Krugman is beginning to exhibit a pattern of direct self-contradiction of very deliberate and well-thought-out convictions. Recall his table pounding earlier this year for virtually unlimited extensions of unemployment benefits, with no acknowledgement whatsoever that this was in absolutely complete opposition to what he wrote in his economic textbook not many years before.
It seems that they sense their era would be ending if this crisis runs its course.This is the symptom of outright panic.
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