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Monday, October 13, 2003
I got those economist-penis-envy blues
I used to know this girl who was just flat out gorgeous. Stunning. Other-worldly. Hot. When I mentioned it to another young lady I knew, she commented, ""Yeah. But she has ugly toes".
I am reminded of her every time Paul Krugman, professor of Economics and International Affairs at Princeton University, writes a column for the New York Times, only to have back-alley 'economist' Donald Luskin pop up like a flaming herpes reoccurrence.
Krugman has a new column today regarding a topic that he may know more about than anyone else in the country: “New Trade”. Sample from the article:
There is now a huge structural gap — that is, a gap that won't go away even if the economy recovers — between U.S. spending and revenue. For the time being, borrowing can fill that gap. But eventually there must be either a large tax increase or major cuts in popular programs. If our political system can't bring itself to choose one alternative or the other — and so far the commander in chief refuses even to admit that we have a problem — we will eventually face a nasty financial crisis.
The crisis won't come immediately. For a few years, America will still be able to borrow freely, simply because lenders assume that things will somehow work out.
But at a certain point we'll have a Wile E. Coyote moment. For those not familiar with the Road Runner cartoons, Mr. Coyote had a habit of running off cliffs and taking several steps on thin air before noticing that there was nothing underneath his feet. Only then would he plunge.
At this writing, Luskin hasn’t weighed in with his “expert” opinion on Krugman’s latest, possibly because he’s still busily scanning through his Looney Tunes collection for the one time that Wile E. Coyote didn’t plunge. Luskin will then announce his discovery in a big Luskin-esque “A-HAH!” moment that will make his nipples all hard and give him a brief erection that will only last until the realization that he is still Donald Luskin hits him like an Acme anvil. In the meantime Luskin seems to be gloating over the fact that Krugman’s The Great Unraveling has fallen all the way to the fifth spot on the NY Times bestseller list. Yeah. How embarrassing:
Down to number five on the New York Times bestseller list -- and still trailing Al Franken (and Bill O'Reilly). But he's number one on the Business best-seller list (Self-help was even more obviously the wrong category, so what was left... Fiction? Naaah...). If you still feel you have to buy the damn thing, buy it from me by clicking here.
Good to see that he's not too big to make a buck off of Krugman. Maybe he can use the money to enroll in night school...
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