Here’s the gist of liberal critiques of conservatives and libertarians.
As far as conservatives go, the whole lot are hypocrites since they want things like social security and medicare to remain in place for their constituencies. Liberals don’t really dare say much anymore about the disturbing costs of American military hegemony these days.
As far as libertarians go, the whole lot are lunatics since they want to see cuts in spending across the board, for entitlements and bloated military budgets alike. The great soon-to-be-bankrupt state of California has voted down Prop 19. Apparently a little reefer is a little too crazy for the most ‘progressive’ state in the union.
What’s the point of all this name calling? To avoid several arguments on the merits. The first is always why taking from one person to give to another is wrong. Don’t bring that up, lunatic. They’d rather you were at least a hypocrite. Hypocrites are easier to deal with.
Krugman claims there is one and only one path back to economic growth. If we don’t take it we will implode. Of course, government policy heretofore has had nothing to do with it. To suggest otherwise would be crazy.
He claims a weak dollar will cause American assets and goods to sell sell sell, as if devaluation wouldn’t exist across the board. Then he suggests simultaneous devaluation isn’t something he can even imagine. Will devaluation help barbers sell haircuts? Retirees maintain their standards of living? Trickle down economics from exporters to every day Americans. Oops, that sounds crazy.