The wonders of the Nobel Prize Winning economic laureate Paul Krugman. I would never in 1 million years believe that I could agree with a single sentence this man writes. But enter his latest piece “This Is Not A Recovery”:
[...]this isn’t a recovery, in any sense that matters. And policy makers should be doing everything they can to change that fact.
For a man that achieved nobel greatness for integrating a few small fields of economics (read: not all that great), he is finally bringing some rational thought into economics, although, a bit late.
Beyond that one sentence, though, I still consider Krugman a quack. He may be one of the only people who hasn’t seen a connection between easy money policies plus government stimulus and the inevitable misallocation of resources that occurs when there is too little risk to borrowing money and not enough reward given to those who save. Continuing the consumption driven economy that we as Americans have enjoyed for the past 20 years.
Does anyone else not get the feeling that politics in general are leaving a bad taste in the mouths of most Americans? Nobody likes the Democrats and the Republicans are hated too. Its a political stagnation of sorts, where no one wins. I guess this is why I’m Libertarian.
