The Elysee Palace sold off a tenth of its wine collection in a Presidential garage sale. Selling presidential wine in a nation that loves its wine might chip away at awful approval ratings, but it speaks more to the stupidity of goals that include squeezing the inequality gap by bringing the top lower, taxing rich people and businesses, and demonizing success.
The economic argument is over, and Paul Krugman has won. Because, nothing spells victory like 20-some-odd million people out of work, a declining workforce, record deficits, anemic economic growth, record dependency on government programs and a heightened sense of volatility in the broad economy.
President Obama, new French President Francois Hollande and other political leaders have called for less "austerity" as a way to help the troubled economies on both sides of the Atlantic. That's the polite way of saying they want more government spending and larger deficits.
They walk where no mortals dare. They face challenges that melt the resolve of ordinary people. They fearlessly stride the pathways of the world, towering over the feeble masses. Commoners worship them as gods, without whom their lives would dissipate into madness and chaos. Who are these giants that rule the world and whose wisdom is essential to our daily existence? They are economists.
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