I watched Krugman on PBS’ Newshour last night. Looking at his face, I thought, “Here is a deeply frightened and worried man.” And he is, clearly:
I’m finding it hard to read about politics these days. I still don’t think people in the administration understand the magnitude of the catastrophe their excessive caution has created. I keep waiting for Obama to do something,something, to shake things up; but it never seems to happen.
Here’s what I wrote in February 2009. It’s pretty rich that now the usual suspects are accusing me of having shared the administration’s optimism. But that’s a trivial point; the important thing is that all signs are that the next few years will be a combination of economic stagnation and political witch-hunt.
This is going to be almost inconceivably ugly.