Monday, 16 April 2012
The Suicide of Europe.
Paul Krugman, Professor of Economics and International Affairs at the Woodrow Wilson School of Public and International Affairs at Princeton University and Centenary Professor at the London School of Economics, has written in the "New York Times" about the insanity that seems to have gripped European leaders. "It’s hard to avoid a sense of despair," he says in the article. "Rather than admit that they’ve been wrong, European leaders seem determined to drive their economy — and their society — off a cliff." He's talking about austerity which, as a policy, is about as stupid as it gets. What's worse, as Krugman points out, the results of persuing austerity during an economic downturn have been abundantly plain since the 1930's. So why are our leaders so determined to follow a policy that any thinking man would immediately know is foolish? Is it because they are engaged is some evil conspiracy that is just too fiendish and convuluted for us to follow? No. They really are that stupid. You only have to listen to David Cameron or George Osborne telling us all that the national economy is just like a household budget to see that. We are being led to disaster not by evil geniuses but by mediocre second-raters who simply lack the ability to see that what they are saying is nonsense and lack the intelligence to analyse complex issues. They are morons pure and simple.