No, no… not the election. That’s a foregone conclusion. (Conservative minority, wouldn’t you say? Duh.)
That should really irk right-wingnuts. Maybe when things settle down here a bit, we can discuss The New Trade theory. Oh and get back to discussing why cap-and-trade programs suck. Kind of busy at the moment…
Update: And, semi-related, consider this…
The markets on Wall Street may well be “metabolizing” the news from the EU ministers weekend get together and appear to be rallying a little today from the depths of despair and panic last week, but don’t be deceived — the underlying problems at the root of the current crisis — the entirely NOT “strong fundamentals” (a wholly bogus and laughably deceitful expression) — are being completely ignored for now. For various reasons, it’s almost indisputable that the economy is headed for a period of economic recession and it may even be worse than that: a “great reckoning” of some kind.
The promises being made by all of our leaders in the federal election are virtually meaningless in the light of this — at least in the form in which they’re being proposed. Either program cuts will have be made, or the promises not to go into deficit will have to be broken — you can’t have your cake and eat it too. Something has to give. Unfortunately, they are all working from assumptions and modestly optimistic economic forecasts that were wrongly made 6-8 months ago, resulting in hackneyed political scripts that were formulated before the “new paradigm” as Soros calls it became painfully evident.
Everyone seems to focus on Krugman’s criticism of George Bush but that’s not the real problem here.
The timing of this award could not have been better. With the market losing 18% in last week alone and more than 40% over the past year, the only thing any American economist should be getting is jail time.
I go into more detail in my blog if you care to read. http://www.blightofman.com/2008/10/13/hating-101-nobel-pundit-prize/
BM — Krugman is very political and an unabashed “liberal” which draws fire on that level while completely ignoring the essentials of his thinking, you’re right. Thanks for letting me know about your site. I look forward to exploring the issue in more detail at some point down the line…
Those Nobel judges are just liberal hacks!
re:
a foregone conclusion. (Conservative minority
ya never know, there could be a alien smart ray that wakes everyone up tomorrow determined to vote Liberal
just hoping
Yep, I don’t have time to verify that, but I’d bet… just based on the general squalor of most political blogs.