Paul Krugman has lost his mind. This sad fact is clear from his column today in which he claims that the US is in a third depresion and that it is a result of too little spending by the government. What will he do next? Will Krugman swing from the chandeliers in some large public space while yodeling some old Swiss favorite?
Krugman's point is that the economy needs more stimulus to keep from collapsing. He never addresses the complete failure of the Obamacrats to focus the stimulus on items that would actually stimuluate growth. Apparently, that is too detailed for Mr. Krugman. He never addresses the coming failure of the US to be able to borrow more to keep up the spending frenzy. He never address why the torrent of spending has produced essentially no growth in the last year. At some point someone must have taught Krugman that "spending is good". That seems to be his whole analysis.
I know that Krugman purports to be a learned economist. I just want to know what it was that he learned. It certainly wasn't economics.
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