Last but perhaps not least among causes of the consumer funk is the administration’s own determined pessimism. Mr. Bush has a bully pulpit, and he is using it to preach economic alarm. This adds powerfully to the chorus of doomsaying. And when it comes to short-term economics, believing can sometimes make it so.
The title of Krugman's column from this Thursday? "On the Edge." Consider it his own little contribution to the insane amount of doomsaying being done by our current President.
1 comment:
I believe Naomi Klein explored this in her book Disaster Fascism.
Post a Comment