Today, we have proof that Krugman is losing it (and let me preface this by saying that I have the utmost respect for Krugman's economic work and revere him highly):
His column says we should "respect" those who "worry" about trade. I disagree, because most of the "worriers" do more than worry-- they also monger fear, distort facts, and advocate protection (like my old bud Lou Dobbs).
But here's his blog yesterday. He's saying that basically saying that the only reason that the housing snafu hasn't wrought recession and despair on the economy is... (drumroll).... TRADE!
So, we should respect people who worry about trade, but trade is the only good thing going for us? Is that anything like being on a sinking cruise ship and worrying about the safety of the life rafts?
-Bang!
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