Just for fun, let’s look at what Paul Krugman wrote five years ago.
Snippet one, concerning the U.S. finances:
Meanwhile, consider this: we need $400 billion a year of foreign investment to cover our trade deficit, or the dollar will plunge and our surging budget deficit will become much harder to finance — and there are already signs that the flow of foreign investment is drying up, just when it seems that America may be about to fight a whole series of wars.
Snippet two, concerning domestic policy:
So now the administration knows that it can make unsubstantiated claims, without paying a price when those claims prove false, and that saber rattling gains it votes and silences opposition. Maybe it will honorably refuse to act on this dangerous knowledge. But I can’t help worrying that in domestic politics, as in foreign policy, this war will turn out to have been the shape of things to come.
’nuff said.
Reading Krugman from 5 years ago is actually more useful than reading all the “five years later” articles.
