There are lot of False Profit Economists, Paul Krugman isn't one of them. My only knock on Krugman is that it was obvious the United States was heading into a Depression when the global economy turned turtle on 2008, so he's a wee bit late to the revelation. All measures taken across the world have been delaying tactics for the main event ... a global capitulation. The Austerity/Privatizing madness occurring around the world is an example of the 1% trying to get their hands on as many hard assets as they can before the bottom falls out. The 1% already realize it's game over, they just want to be in the best shape, holding the most important assets, on the other side of the crisis. How ever many decades down the road that might be.
Krugman is correct. Simpson is protecting the status quo that has already collapsed, and is one of the legislators that brought us to this place to start with. Simpson is no wise, detached sage.
Read the Article at HuffingtonPost
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