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Politics : View from the Center and Left

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To: Steve Lokness who wrote (113515)	6/16/2009 12:03:17 PM
From: Dale Baker	Read Replies (2) of 541792

I am sincerely glad that neither Krugman nor the Austrians are in charge of economic and financial policy right now. The Austrians would abolish the Fed and allow the financial system to collapse "for our own good" of course. Krugman would have nationalized the banks and tried to spend trillions more in stimulus and ended up in a total clusterf***. I am delighted that we have someone in power taking a middle course between the two. Since no economic power has ever embraced Austrian economics and it's unlikely any modern economy could or would, their preaching is moot. And Krugman thankfully is a lousy politician so the chances that his ideas will gain traction are also virtually nil. Works for me. But I am one of the few relatively calm, satisfied people on SI nowadays.

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