If you’re one of the four-or-so frequent readers of this here blog, chances are you also occasionally check out the New York Times op-ed page. You may even know the names: Thomas “Friedman’s Just Another Word For Nothing Left to Lose” Friedman, Gail “The Colander” Collins, Nicholas “The Dark Crystal” Kristof, &c. Well, I’ve decided to devote a daily feature to these folks, by daily pointing out one line that is either awesome, funny, insightful, intelligent, ridiculous, or utterly divorced from reality. I hope you enjoy.
Today’s is from Paul “The Little Professor” Krugman, who in his column “The Third Depression,” writes:
It’s almost as if the financial markets understand what policy makers seemingly don’t: that while long-term fiscal responsibility is important, slashing spending in the midst of a depression, which deepens that depression and paves the way for deflation, is actually self-defeating.