Every now and again I'll find a Famous Pundit making my argument on some topic of importance. I've been writing rather a lot recently on the theme that the 1%-ers really do want a Depression. My reasoning is simple: Depression is deflation, and for those with hoards of cash (yes, GE, I'm talking about you), "return on capital" can happen either by actively investing or passively watching as global prices fall. To the cash fat, it's all the same.
Well, today Krugman takes up the theme. He goes on rather longer than I have, and adds some spice. Give it a read, if you want to know where we're headed, and you didn't believe me long ago.
Note: I've coined (so far as I know) the epithet, "Dictatorship of the CEO"; Krugman is a bit less biting. He'll come around, eventually.
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