No-Nothing Krugman

One of the reasons The New York Times is going broke is that they pay fools like Paul Krugman huge sums of money to write the kind of drivel left wing moonbats post for free. His brilliant thesis today is...are you ready? Republicans are stupid! Next week he will probably call them pooh-pooh heads.

His evidence is unintentionally ironic and hilarious:

So the G.O.P. has found its issue for the 2008 election. For the next three months the party plans to keep chanting: “Drill here! Drill now! Drill here! Drill now! Four legs good, two legs bad!” O.K., I added that last part...

"What I mean, instead, is that know-nothingism — the insistence that there are simple, brute-force, instant-gratification answers to every problem, and that there’s something effeminate and weak about anyone who suggests otherwise — has become the core of Republican policy and political strategy. The party’s de facto slogan has become: “Real men don’t think things through.”

Instant gratification? Isn't it Democrats who are telling us that drilling won't solve anything because it won't be available for years and won't do anything to lower prices today? Obviously, Krugman doesn't believe that the proposed repeat of Jimmy Carter's windfall profits tax disaster isn't the brute force of government confiscating private property because Democrats have decreed arbitrarily that oil companies make "excess profits". I guess he missed the class where the difference between profit and profit margin was explained.

Apparently, Krugman also thinks that scapegoating oil speculators for reflecting current events in bidding on future prices is also not "brute force" and is well thought through. I know the Democrat Party doesn't know or care how commodities markets work, but for someone who calls himself an economist to ignore that piece of Democrat stupidity is...well, stupid. I guess the opinion of just about every knowledgeable person up to Ben Bernanke that speculators have little or nothing to do with current prices is something Krugman thought through for about a second and then asked "What was the question?"

In the case of oil, this takes the form of pretending that more drilling would produce fast relief at the gas pump. In fact, earlier this week Republicans in Congress actually claimed credit for the recent fall in oil prices: “The market is responding to the fact that we are here talking,” said Representative John Shadegg.

The Republicans may be right, but Krugman dismisses them with an ignorant sneer. All speculation and investing is based on predicting future events based on current ones. Hence the name "futures market". What cereal box did this clown get his ECON degree from anyway?

Krugman then moves lazily along with the same shopworn nonsense about Iraq that ignores Saddam's support of every terrorist that came knocking, numerous treaty violations, the oil for food scandal, pre-war transports to Syria and most recently, the fact that we just removed 500 tons of yellow cake Uranium from that country. Joe Wilson call your office.

It's not surprising that The NYT would employ such a left wing ideologue as a well paid regular columnist. Although they could hire any number of Marxist hacks from the Huffington Post for half the price.