Friday, June 18, 2010

Why I have no confidence in the recovery, part IV.

Paul Krugman, as always, hits the nail on the head with this post in the NYT.

The world is being infected with a malaise I call poor logic.  It could lead us back into a world-wide recession, and we would expect to hear fiscal conservatives proclaim that it was the liberals who failed to act in time to save the economy by slashing sooner rather than later.

Of course, the lurking danger, is another world war based on economic restlessness and the politicians who would use the economic restlessness to their advantage.  Hitler rose from negative populism; Tea Party people sure sound like negative populists to me.  From a Slate article:
"Positive populism built on the hope that all Americans can get ahead stands a better chance of stirring the country to collective action than negative populism that depends on sustained anger and resentment."

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