Drink Krugman's Kool-Aid If You Think Governments Manage Economies Better Than Markets

Princeton Professor and New York Times columnist Paul Krugman must be feeling the heat. In a recent blog he referred to David Stockman's March 31 brilliant NY Times OpEd was "pathetic and embarrassing." Why do I say Stockman's article was brilliant? Stockman's main point is that, "Sooner or later, within a few years, this latest Wall Street bubble, inflated by an egregious flood of phony money from the Federal Reserve rather than real economic gains, will explode."