Sophistication or Sophistry?
In today’s NYTimes, Paul Krugman distills the sub-prime lending mess down to a bite sized, easy to understand piece. His outlook is not really that gloomy but you can see that there is not a simple solution. However, today President Bush will announce the preliminary plan for a stimulus package. Don’t expect much meat. It will be the usual solution to all problems — tax cuts. At least this is more entertaining than Rudy Giuliani’s solution to all the country’s ills. — more 9/11.