He did it again! Krugman is simply a joy for somebody like me. After a weekend of terrific football, where you're all worn out and hung over, comes this jackass to lighten your life and give you something to write about. Today, he gave a luke-warm thumbs-up to Ben Bernanke calling him a "superb research economist"--takes one to know one. But he's too complacent says Paul, as he was before the crisis, and it was his complacency that caused the same. Seems that Paul thinks Ben didn't speak out on sub-prime lending. Ah, Paul. The origin of sub-prime was always Fanny and Freddie and the Fed had been speaking out against their policies for years--you and your boys just didn't listen. Now the problem is too much complacency about under-employment. It seems that Ben is going to have to adopt policies to create jobs.
How the hell a central banker is supposed to do that Paulie doesn't tell us...which of course begs the question entirely as to whether that is a central banker's job at all. What it does do, however, is avoid the difficult conclusion that The Leader's administration, for the first year at least, has been more or less a disaster on the job and fiscal front which is the real purpose of the piece. Krugman concludes that Bernanke should be reappointed nevertheless because a successor would face too hard a battle in congress. He right there. What he's really saying is that if Ben stays around we can blame him forever...just like george Bush
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