Fortunately, physicians no longer believe that bleeding the sick will make them healthy. Unfortunately, many of the makers of economic policy still do.
September 19, 2011
Decline in manufacturing capacity is probably only the beginning of the bad new: Paul Krugman
[He is apparently oblivious to the irony as he goes on to say, even though the U.S. Government is broke, “For the time being we need more, not less, government spending, supported by aggressively expansionary policies from the Federal Reserve and its counterparts abroad.”
Krugman believes that budget austerity is the equivalent of “bleeding the patient” when sane people would recognize it as reducing the hemorrhaging. One has to wonder if Krugman is practicing doublethink, doublespeak, or both. In any case he has crap for brains if he thinks the majority of the people will believe him.—Joe]