Monday, August 04, 2008

Krugman, Clinton and Bush

The blogfather points to an article by William Anderson critiquing economist Dr. Paul Krugman (of NY Times and Princeton fame) for a failure to connect the dots. Krugman is a notorious Democratic hack who reflexively opposes anything connected to the Repoublicans and the administration. Anderson takes a look at the economy over the last 16 years and finds some distrubing issues involving the Fed and the political classes form the view of a classical Austrian school economist. More or less, it boils down to the Fed artificially manipulating first the financial markets under Clinton, then the housing markets unded Bush.

"If there is a cause-and-effect pattern in this article, it is based solely upon who occupies the White House, according to Krugman. Now, one might expect such talk from the heads of the two main political parties, but a Princeton economist is supposed to operate by higher standards than what prevail in pure, partisan politics."

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