At least he admits it.
ByToday it was the Senates turn to question our new Fed Governor Bernanke and use the opportunity to try and get him to trash the President and his economic policy. Bernanke on that note did a great job of making sure not to get sucked into their tricks.
The best part of the day though came from Senator Schumer. Many have read my complaints about the Senator and his call for Smoot Hawley type tariffs on China. When it was his time to speak, he actually said to Bernanke that as the Fed Gov was aware I (Schumer) have tried to float the tariff idea in the senate despite, and here’s the great part, he knowing it’s the wrong thing to do and every economist he has spoken too, telling him it’s the wrong thing to do. Schumer than says he brought up the idea because he doesn’t know what else to do.
That’s great, you don’t know what to do, so you try and do the one thing you know is the wrong thing to do.
Why is this guy on the Senate Finance Committee?
Hey Chuck, just because you come from the economic capital of the world, doesn’t mean you know anything about economics.
It's the end of the post, now what?
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3 Comments
February 16th, 2006 at 7:09 pm
Funny because every article I’ve read from first-hand account interview from his friends said they all assumed he was a Democrat because he always acted like one. Maybe he’s taking after my favorite Democratic Mayor Michael Bloomberg.
At least Krugman isn’t runnning the Federal Reserve. Now that would be a nightmare. He’d probably throw spitballs at the board of governors).
Ha Ha Ha!!!!
Meghan
(Who thinks Bernake will prove to be much less partisan than Greenspan and likes him a whole lot.)
February 16th, 2006 at 7:24 pm
Meghan,
I’ll give you credit for at least not trying to protect Krugman. He’s actually the brunt of one of my favorite jokes.
Somebody went to the office of the New York Times and said, “Who here is an economist”? Krugman raised his hand but then had to quickly lower it because he thought the person asked, “Who here is a communist”?
February 16th, 2006 at 7:32 pm
I’ll even laugh at that joke Vertucci, just because I think Krugman is a hack.
His problem is not that his views are communist-like really. His problem is that he hates Bush so much that he can’t look at anything objectively without spinning it. He’s a smart guy but he has too much anger and it trips up his analysis. I don’t trust him.
I also think it was a dumb move for the Times to give him free reigns as an editorial writer and talk about non-economic issues when he has no experience in partisan hand-wringing. I skip up over his columns and just read Friedman, Dowd and Brooks.
One day he will open his eyes and see that there is so much inpetitude from the Worst.President.Ever. that he doesn’t need to spin and make stupid predictions. Plenty of material without the spin.
Meghan XX OO
(Who knows the economy is cyclical and Krugman’s predictions that it was forever going to be in the crapper because of Bush was just partisan wishful thinking, not economics.)