Sunday, July 11, 2010

On Disagreeing with Krugman

[Pity the Poor C.E.O.’s, by Paul Krugman, Commentary, NY Times: Job creation has been disappointing, but first-quarter corporate profits were up 44 percent from a year earlier. Consumers are nervous, but the Dow, which was below 8,000 on the day President Obama was inaugurated, is now over 10,000. In a rational universe, American business would be very happy with Mr. Obama.]

this is not the right standard.  to use the same methods, we should be displeased with obama because of the current unemployment figures.

the question is not a linear “what was it then, what is it now?”  it’s “what is it now, what would it be if handled differently?”

double standards are not cool.

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