Talking back to stupidity

NYT columnist Paul Krugman had his chance with this reader comment:

You're an idiot. Give me one example in all of history of a country that spent its way out of a depressed economy.

Krugman's response:

Ahem. There's this country -- people may not have heard of it -- called the United States of America:

debtdepressionwar.PNG

The blue line is total debt, public plus private, in billions of dollars; the red line debt as a percentage of GDP (both on left scale).

I couldn't help but be reminded of the classic Marshall McLuban scene in "Annie Hall." I know it's dated, but in a weird way it summarizes the current know-it-all society.



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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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