Friday, November 25, 2011

Economic Chaos Explained

By an Irishman no less



  1. I'm going for a pint as well. Maybe two.

  2. And right on que yglesias explains that the problem is really too much savings, yeah, I said I wasn't going to read him anymore, maybe corruption is the problem, but not in the world where yglesias lives. It's the fault of the peasants that saved so much money the bankers had to steal it, and the politicians had to give it away.

    I wonder how long before yglesias goes full Lieberman and endorses Sarah palin.

  3. I think we can all agree that fuck shites may be the ideal name for the bankers and whatnot that broke the economy. Karl get ready for more of that kind of stuff. Now that Yglesias occupies a similar office to McARdle, business and economic editor, he will spend much of his time parroting Krugman, whose recent spate of the paradox of thrift Yglesias echos. The idea is basically sound if the economy were the one in which those sort of rules developed; it isn't. Therefore, the problem is the paradox of thrift, or the fable of the bees, but rather that too few people have most of the wealth and money and the rest of us cannot spend because we are broke, in debt or both. So Yglesias will babble on with his usual ponderous cluelessness with an occasional market forces rule the rest of you drool sort of gobbledygook.