Topic: Economics
from Columnist Paul Krugman wins Nobel economics prize:
Commenting on the global economic meltdown, Krugman told a news conference in Stockholm by telephone from the United States that some of his research was linked to currency crises and related issues.
"This is terrifying," he said, comparing it to the financial crisis that gripped Asia in the 1990s. "I had never thought that in my lifetime I would see anything that resembles the Great Depression, but this in fact does."
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Contrast this with LaRouche's decades-long warning that the crash would occur if "free trade" weren't abolished. Even with these warnings, Krugman claims to have been taken by surprise. Sounds to me that certain people, with Krugman's help, are just trying to pretend that LaRouche doesn't exist - a variant on the oft-heard claims that "nobody saw this coming" and "there is no magic bullet." There is in fact a solution, and it's called the American System, based on the General Welfare clause of the Constitution, NATIONAL banking (not British-controlled central banking), competition in the realm of ideas, and cooperation on a vast scale in the realm of production. If Krugman doesn't finally use his fame to push this system, or at least some aspects of it, he'll dig himself quite a deep grave.
