The NY Time today published an op-ed penned by Nobel Prize winning economist Paul Krugman on the debt/fiscal crisis facing the US.
Krugman practically proved that Keynesian monetary theory results in an intellegence level roughly equal to that of a 30 year LSD/ meth addict, as Krugman made the following eye-opening statement in his piece:
“We’re not going to resolve our long-run fiscal issues any time soon, which is O.K. — not ideal, but nothing terrible will happen if we don’t fix everything this year. Meanwhile, we face the imminent threat of severe economic damage from short-term spending cuts. So we should avoid that damage by kicking the can down the road. It’s the responsible thing to do.”
Krugman’s full op-ed titled Kick that Can is below: [Read more...]