Krugman starts out being polite when he says;- "I'm finding it hard to read about politics these days. I still don't think people in the administration understand the magnitude of the catastrophe their excessive caution has created. I keep waiting for Obama to do something, something, to shake things up; but it never seems to happen. [....] the important thing is that all signs are that the next few years will be a combination of economic stagnation and political witch-hunt. This is going to be almost inconceivably ugly." And maybe he really does believe that the administration doesn't grasp that they are destroying America's economy and it's chances of recovery, but I think he may be forgetting that all his friends are from the Chicago school, and they think that disaster would be a good thing.
"I'm finding it hard to read about politics these days. I still don't think people in the administration understand the magnitude of the catastrophe their excessive caution has created. I keep waiting for Obama to do something, something, to shake things up; but it never seems to happen. [....] the important thing is that all signs are that the next few years will be a combination of economic stagnation and political witch-hunt. This is going to be almost inconceivably ugly."
And maybe he really does believe that the administration doesn't grasp that they are destroying America's economy and it's chances of recovery, but I think he may be forgetting that all his friends are from the Chicago school, and they think that disaster would be a good thing.
Romer, last I checked, was leaving (she may have already). You'll recall she was the one who said we needed a $1.2-1.4tn stimulus, and we now know her memo saying so never even made it to Obama. That's catastrophic, but who can blame her? If she stays, she'll be ignored anyway, plus she'll lose her tenure at Berkeley.
Volcker hasn't technically left, as far as I know, but they haven't listened to him from the start. Same with Goolsbee, who was quickly kicked off to the "Recovery Board" with Volcker. I suspect both of them will be gone soon.
So everybody with half a brain on economics and an ounce of political common sense has basically left. Conservatives want live babies so they can raise them to be dead soldiers. - George Carlin
Conservatism succeeds for conservatives. It may fail everyone else, but as far as conservatives are concerned there's no lack of everyone else to go around - and they have no guns, no money, and no lawyers.
Therefore, insignificant and disposable.
In fact if you follow Fox News and the Limbaugh/Hannity afternoon radio crew, this summer's blowout has almost seemed like an intentional echo of the notorious Radio Rwanda broadcasts "warning" Hutus that they were about to be attacked and killed by conspiring Tutsis, broadcasts that led to massacres of Tutsis by Hutus acting in "self-defense."
