People who get their economic analysis from the likes of the Heritage Foundation have been waiting ever since President Obama took office for budget deficits to send interest rates soaring. Any day now!
And while they’ve been waiting, those rates have dropped to historical lows. You might think that this would make politicians question their choice of experts — that is, you might think that if you didn’t know anything about our postmodern, fact-free politics.
Krugman, of course, has committed the unpardonable sin in Washington circles of being right about the housing bubble, the collapse, the recession, and everything in between.
This caught my attention because of this review at Epinions of Jerome Corsi's latest bit of fact-free propaganda. The reviewer does good job of laying out Corsi's thesis and his argument, but doesn't subject it to a great deal of critical analysis, which with someone like Corsi you have to do -- you have to look not only at what he says, but think about what he's left out. One of Corsi's points is that America is bankrupt. Read Krugman's article to get the answer to that one.