Watch this video from Friday's PBS News Hour. At about 8:52 into the video, Paul Krugman cites a point that you'll never hear Conservatives mention: the pain that would be inflicted by letting market forces take their natural course, per the standard outcome of a recessionary period. I'm dumbfounded how Conservative politicians and economists blithely fail to discuss this point, either intentionally or out of ignorance. Have we really become a "Nation of Know-Nothings", allowing the Rush Limbaughs of this world to get away with dishonest discussions?
Oh, but do watch the whole video; Krugman catches Doug Holtz-Eakin contradicting himself. He's forced to change his opinion on the question of whether or not the Feds have tools other than the Fed fund rate, to effect monetary policy. Quite amusing, really.
No comments:
Post a Comment