Monday, February 28, 2011

Do you have anything to add Professor Krugman?

Indeed. And it’s not just the Germans. It’s amazing how this whole crisis has been fiscalized; deficits, which are overwhelmingly the result of the crisis, have been retroactively deemed its cause. And at the same time, influential people around the world have seized on the idea of expansionary austerity, becoming ever more adamant about it as the alleged historical evidence has collapsed.

Hell, even I was a Frankfurter.

But, to quote Keynes: When the facts change, I change my mind. What do you do, sir?

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