Thursday, July 31, 2008

Krugman the Klown plays the Race Card

Luskin says that K the K's intellectual deck is all dealt out; hence, the move to the race card tactic.

Meanwhile, William Anderson, at the Ludwig von Mises Institute tells us about K the K's Krugpot Economics.


"One hates to break it to this perennial candidate for the Nobel Prize, but the problem is not 'unregulated free markets.'

For one, financial markets are heavily regulated by government. Second, the real problem has been the belief that government can act as the backstop for every financial failure.

In fact, the various guarantees, bailouts, loans, and the other measures taken by the government to prop up failing markets have served not only to lengthen the coming recession, but also to block the recovery. One cannot simultaneously have free and wide-open financial markets and government guarantees to back failures, which economists recognize as a moral hazard."

"Perennial candidate for the Nobel Prize"?

Well, why not?

The award to algore set the stage for wholesale American embarrassment that that particular House of Cards continues to produce.

Why should Krugman the Klown's House of Cards be any different?

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