Krugman on Occupy Wall Street

Paul Krugman:

There will, of course, be the usual attempts to dismiss the whole thing based on trivialities. Look at the oddly dressed people acting out! So? Is it better when exquisitely tailored bankers whose gambles brought the world economy to its knees — and who were bailed out by taxpayers — whine that President Obama is saying slightly mean things about them?

Or, why don’t they try to work within the system? Well, how’s that been going for those who did indeed try? When palace intrigue undermined the likes of Elizabeth Warren even within the Obama administration, and Republicans have thrown their full backing behind the malefactors of great wealth, why shouldn’t protesters go outside the usual channels?

Finally, why not defer to people who know what needs to be done? Regular readers know the answer: the VSPs have been consistently, awesomely wrong, both before the financial crisis and after. Nothing in the recent record of policy suggests that the wise men of finance deserve any credence at all.

That’s called taking a stance and not fudging issues. Hooray, for the clear cut and transparent analysis that punches through muddled thoughts. That’s something Kongers should learn.

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