The guy who told us that we wouldn't even have a recession, is now telling us, despite a crisis in Europe (and the definite threat of a double dip) that now is a good time to stop spending. The guy is a fucking genius.
Update: Krugman's view.
Update 2: It is criminally stupid to be worried about inflation in the middle of a deflation crisis.
Recommend this Post
Well, there's what one commenter to Krugman's piece says -- weigh the pain of austerity against the pain of default plus forced austerity (when no-one will buy your bonds).
ReplyDelete