A comment – “Tell us, Mr. Gaskill, do you acknowledge that Krugman’s three unpleasant truths really are true? If so, what would you want the next Congress and President to do about them? Do you think there is any chance that the next Congress and President will in fact do anything about them?”
My answer: The current administration has run out of time and ideas. Here are the three truths that are most relevant, IMHO: The next president needs to be able to govern in the context of stalled private investment, catastrophic sovereign debt and a riotous sense of entitlement.
And a fourth truth looms, to wit: The prescriptions of John Maynard Keynes no longer work in the global economy.
For more, please follow the links at the end of my short piece
- …and add this one: http://jaygaskill.com/DelusionalEconomics.htm
- …and this one: http://jaygaskill.com/dot2dot/2011/11/18/no-hysteria-calmly-addresing-the-coming-systemic-failure/
- …and this one: http://jaygaskill.com/Leadership.htm .
We have only one president at a time. The next one will face some very heavy lifting indeed.