Atlantis Alumni

Monday, October 27, 2008

Why We're Still In Economic Trouble

According to Nobel prize-winning economist Paul Krugman writing in today's New York Times:

What’s happening, I suspect, is that the Bush administration’s
anti-government ideology still stands in the way of effective action. Events
have forced Mr. Paulson into a partial nationalization of the financial system —
but he refuses to use the power that comes with ownership.
Whatever the
reasons for the continuing weakness of policy, the situation is manifestly not
coming under control. Things continue to fall apart.

Will next week's election change this? Probably not, at least not right away.


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