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The Canonization Of Paul Krugman

Why is Paul Krugman on the cover of the latest issue of Newsweek?

The legacy media is enamored with the story about Krugman's criticism of the Obama/Geithner bank plan and remedy for the recession. Not to be lost amid the loud noise surrounding Krugman's criticisms of Obama administration policy is the fact that the New York Times editorailist is right about one element of White House policy (the doomed Geithner bank bailout plan) and monstrously wrong (not to mention hypocritical) about another aspect of Obama policy: deficit spending.

It is more than a little suspicious when mainstream press outlets and liberal pundits start to champion a well known liberal for his criticism of a President they famously refused to vet during the campaign. So what's going on here? I suspect that there is some subterfuge at work, namely, to push the agenda of increased deficit spending under the guise of a bank bailout critic whose words on that issue have a soothing effect conservative minds.

Fiscal and monetary conservatives would be wise to ask this question: why do liberal pundits roar (on the front of major news weeklies) about Krugman's new found liberation from socialist group think on bank bailout policy and simply whisper about his call to create even larger structural deficits?


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Comments (3)

They're in love with Krugma... (Below threshold)

They're in love with Krugman because he is preaching the unmoderated message of European-style socialism that Obama cannot afford to fully embrace (yet).

Nope, he's not doing that, ... (Below threshold)

Nope, he's not doing that, Jason. As a Keynesian he rejects raising taxes on 98% of the population during a recession.

I'll click on the link to your blog once you show yourself capable of posting a comment that extends beyond shallow ideological condescension and/or shameless self-promotion.

Krugman? SCRATCHES... (Below threshold)
Brian Richard Allen:




Oh ... that Krugman.

The Slimes' hapless Economics-illiterate Keynesian Enron-Adviser Krugman.

THAT Krugman.

(And here I was, thinking you were referring to someone of note)

Brian Richard Allen
Los Angeles Calif0=ZEROcated 90028 -- and the Far Abroad






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