Enough to drive an optimist to drink

April 19, 2009

It had seemed the American economy might be coming right, which meant the world economy could look forward to a recovery, which would be great news for the export-dependent New Zealand economy.

Ben Bernanke, at the Fed, was seeing green shoots; President Obama was seeing glimmers of hope; the stock market was exuding confidence – but Paul Krugman, the Nobel Prize winner who writes for the New York Times, isn’t ready to sound the all-clear.

Ordinarily, that would be enough for Alf to demand Krugman’s arrest, to be tossed into a tumbrel with other gloom-sayers, hauled through the streets of Wellington and be jeered by the populace, then thrown into the stocks for a couple of days.

In this case, extradition proceedings would be required.

More important, Alf concedes Krugman has given four reasons for caution. Maybe we should consider them.
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