August 30, 2010

Got Frustration?

Krugman predicts the near future:

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." 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. But he says, 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.
Sigh.....I hear that.

4 comments:

Anonymous said...

The Chicago School of Economics. Anyone who has read Klein's "Shock Doctrine" will recognize the fear Krugman has. That school and all its adherents, for all the misery they have caused around the world, should just disappear and the world will be better off.

BIg Em said...

Yeah, I'm with you on that 'anonymous'. It's a good book, and I bought it, but it sure hard to read sometimes because it's a depressing truth. I fear that it's going to take something like a Great-GREAT Depression to get this country on a long-term sustainable track - - and it could just as well slip into some sort of China or India situation...

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