Clarity from Krugman

Paul Krugman is an economist with a knack for clarity and an analysis that is timely and right. He does this time and again. This is not a fluke. This guy should be listened to. Unfortunately the world is in the hand of ideologues on the right whose idiocies keep them from honestly seeing the world and accepting reasonable courses of action. Sadly we are in the hands of madmen and idiots who are driving us over the cliff and into another Great Depression.

Meanwhile, Krugman provides insight and clarity and a way through the mess. Here is a bit from an essay he has just published in the NY Review of Books. Read the whole thing:

What the world needs right now is a rescue operation. The global credit system is in a state of paralysis, and a global slump is building momentum as I write this. Reform of the weaknesses that made this crisis possible is essential, but it can wait a little while. First, we need to deal with the clear and present danger. To do this, policymakers around the world need to do two things: get credit flowing again and prop up spending.