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A nice surprise this morning, eh? Talk about subtlety. He wrote all of eight words about it on his own website. Here’s his post cut and pasted as the link above will most likely hang on the page load. They haven’t capped the comments, so your browser will have to figure out about two thousand of ’em trailing into infinity…
October 13, 2008, 7:40 am
An interesting morning
A funny thing happened to me this morning …
And the story:
STOCKHOLM, Sweden – Paul Krugman, the Princeton University scholar and New York Times columnist, won the Nobel prize in economics Monday for his analysis of how economies of scale can affect trade patterns and the location of economic activity.
Krugman has been a harsh critic of the Bush administration and the Republican Party in The New York Times, where he writes a regular column and has a blog called “Conscience of a Liberal.”
He has come out forcefully against John McCain during the economic meltdown, saying the Republican candidate is “more frightening now than he was a few weeks ago” and earlier that the GOP has become “the party of stupid.”
Source: www.msnbc.msn.com
His blog, the Conscience of a Liberal, is one I’d recommend reading along with just about anything else the man takes the time to write on Mondays and Friday’s at the NY Times.
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Krugman’s comment pretty much sums up the entirety of the Bush years:
I also wonder how much the Femafication of government under President Bush contributed to Mr. Paulson’s fumble. All across the executive branch, knowledgeable professionals have been driven out; there may not have been anyone left at Treasury with the stature and background to tell Mr. Paulson that he wasn’t making sense.
It’s especially true of how the military was handled. You could substitute Defense & Rumsfeld for Treasury and Paulson were it not for the fact that the purge of competent individuals hadn’t yet hit its stride and virtually every high-ranking General who didn’t have his nose wedged between some politician’s cheeks predicted exactly what transpired in Iraq.
Heheh..that’s the real reason the market had such an erection today.
The traders are all hot for intellectual synthesis.
Now get ready for a hundred terrible ‘the surge is working..for walstreet’ headlines.
one big fat Attaboy, Krugman.
Paulson should get the Ig-Nobel.