Krugman (again): Austerians = Bubble Deniers?

[BurtWorm]

Guess who's back in charge of setting conventional (read:bone-headed) wisdom in DC:

:eyes:


http://krugman.blogs.nytimes.com/2010/09/01/austerians-bubble-deniers/

September 1, 2010, 8:36 am
Austerians = Bubble Deniers?

In re this post: Economics of Contempt directs me to his list, a couple of years back, of prominent bubble deniers. There turns out to be a quite strong correlation between denying the existence of a housing bubble a few years back — and jeering at those who said there was — and insisting, now, that fiscal stimulus doesn’t, can’t work.

The question is, why do such people command such attention? As I’ve pointed out before, the same people who denied the existence of a housing bubble also told investors that budget deficits would send interest rates soaring; in other words, anyone who believed these people in the past, and acted on that belief, has lost a lot of money.

[SpiralHawk]

1. Ahhh, the bumbling ReBubbleCons...

...are a virulent plague upon America's economy, honor and sanity.

[BrklynLiberal]

2. They deny what is real: I.E. Global warming..but confirm what is not ....

If one did not know better, one might think there was an intentional effort here to destroy our economy, if not the entire planet.

[Fumesucker]

3. Because those who are always right ...

Are right for the wrong reasons..

You know, like the dirty fucking hippies..

Being right means nothing in the Village, it's all about being Serious and dirty fucking hippies are by definition not serious.

[xchrom]

4. Power is a drug - and the oligarchs and their attendants are smoking

That drug like it won't be there tomorrow.

Supporting their POV supports their access to power.

All we know as Americans is that all 'good widow' is
Held by wall street -- ovoids in that health insurance --
And we do everything we can to protect it.