Paul Krugman of the New York Times has misled again. But first, consider his colleague's "A Sinking Feeling in
the Inland Empire" in the Times, February 19, 2009 by Lawrence
Downes, an "Editorial Observer":
"An agent’s flier sent us to 2047 Cherrytree Drive: four bedrooms, two-and-a-half baths, 1,356 square feet. In 2004, it sold for $247,500. A year and a half later, it went for $325,000. Now it’s listed at $98,000.The disaster will not pass as the New York Times wishes and implies. The people who "of course" will survive will find that the orange groves have been almost completely paved over along with the creeks and truck farms of yesterday. A museum to mass delusion will be the false community erected by once-cheap petroleum, for there won't be the energy to bulldoze and remake the disaster of suburbia."I left town wondering what the Inland Empire might look like when the disaster passes, when places like Mountain View are finally built -- or bulldozed. After the illusion evaporates, what will remain? What parts are real?
"The people, of course, the families with young children who I saw overflowing the Spanish Mass at Corpus Christi Church in Corona. And the orange groves, trees bursting, spilling fruit onto the cold February ground."
Paul Krugman is an "authority" seemingly making sense for us, as the economic collapse unfolds. But the guy's an idiot. On Feb. 19 he wrote "No doubt this recession will pass." - yes, Idiot, but pass into a depression and collapse.
He has been saying for months that "our" big problem is not enough spending for the ailing consumer economy. Truthout.org, a liberal and well-meaning news service, has run his "progressive" material for years. If I'm a bad guy for finally resorting to ad hominem language to express my frustration with this false guru, the New York Times had in the very same edition the column titled "Money for Idiots" by David Brooks, although this idiot was not referring to his idiot colleague.
Who'll Stop the Pain?He goes on to say "population growth... will eventually prompt a housing revival... we’re building up a pent-up demand for cars." I take it back, he's not an idiot; he's insane. To show he and economists in general cannot grasp history, he says:
By Paul Krugman
The Obama administration's policy initiatives will help in
this difficult period -- but it's trying to mitigate the
slump, not end it. No doubt this recession will pass -- but
how, and when?
http://www.nytimes.com/2009/02/20/opinion/20krugman.html?th&emc=th
"The closest 19th-century parallel I can find to the current slump is the recession that followed the Panic of 1873. That recession did eventually end without any government intervention, but it lasted more than five years, and another prolonged recession followed just three years later."In those days, was not an unspoiled continent opening up? -- with the indigenous peoples and their sustainable ways swept aside? "Growth" was real and physical, whereas of late it has been virtual and phony. - JL
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