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Defending Cato from the Predictably Inaccurate Ramblings of Paul Krugman

Free Man3 Wrote: Feb 18, 2013 9:56 PM
Krugman is no more than a dishonest political hack to whom truth is a malleable thing indeed. If the truth puts him at a political disadvantage his obvious response is to build an alternative truth and work mightily to sell it as if it is the original item. That there are dishonest and dishonorable men of that sort is not as scary as the mental illness that allows them to actually convince themselves the imposter truth of their own invention is actual truth. Krugman is delusional.

Writing for the New York Times, Paul Krugman has a new column promoting more government spending and additional government regulation. That’s a dog-bites-man revelation and hardly noteworthy, of course, but in this case he takes a swipe at the Cato Institute.

The financial crisis of 2008 and its painful aftermath…were a huge slap in the face for free-market fundamentalists. …analysts at right-wing think tanks like…the Cato Institute…insisted that deregulated financial markets were doing just fine, and dismissed warnings about a housing bubble as liberal whining. Then the nonexistent bubble burst, and the financial system proved dangerously fragile;...