Krug is in shock that a well-known European economic
organization has been advocated austerity for over three years and keeps
advocating it – despite the lack improvement in Europe. He can’t believe the
chief economist there still has a job.
Krug also has a diatribe on why he uses not nice language on
people who are not used to it. Basically he believes some policy makers and
pundits confuse their political viewpoint with the way things are. He admits he
is political but that he keeps that separate from his economic analysis.
In the past day a policy analyst who worked for Reagan and
Bush #1 has written that we need a lot more government spending. Krug links to the article with glee. Krug makes a point of disagreement with the
title of the article – but the important thing is that another right wing
analyst is agreeing that more aggressive government policy to support the
economy is needed.
Krug also defends himself against a columnist who says because
he was so political that it harmed that call for more stimulus four years
ago. Krug says yes I have been political
– but absolutely not during the stimulus discussion. The columnist’s point is
that if Krug were to be a little less harsh he might influence more. Krug and some of his fellow blogs point out
extensively that he was not political in the stimulus argument and this
columnist is just bending over backwards to be centrist.
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