Debating Krugman's Take on the Economy, and the G-20 Protests

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Debating Krugman's Take on the Economy, and the G-20 Protests
http://www.usnews.com/articles/opinion/2009/04/01/debating-krugmans-take-on-the-economy-and-the-g-20-protests.html

By Andrew Burt Posted April 1, 2009

Bloggers on Obama, the Queen, April Fools' Day, Paul Krugman, and the president's lousy gifts

Protesting the G-20
Today's protests drew most of the attention surrounding the G-20 meeting in London. Look no further than this live blog by the UK's Guardian, or this post by conservative Michelle Malkin (slideshow). Johanna Neuman describes the scene of the protests: "They were rioting in the streets, breaking the windows at the Royal Bank of Scotland, carrying signs that said 'Capitalism isn't working.' " In this podcast, Paul Lewis describes the massive security operations in London to keep the protests in check. Moving on to other G-20-related topics, here's a slideshow of how Europe welcomed President Obama. Chris Rovzar is amazed by Obama's performance already: "He was so remarkably not jet-lagged that he already accomplished a number of important international acts before America even got its lazy ass out of bed." Others focused on the more guiding ideology behind the summit, like French President Nicolas Sarkozy in this piece or this conservative's rebuttal. And conservative Mark Steyn thinks the meeting is a grand political charade. The world's leaders, he predicts, will use the summit to waste "everybody's time by demonizing tax havens and calling for global financial regulators." Plus, Obama gives a crummier gift to the Queen of England than he did to PM Gordon Brown. An April Fools' Day prank? You decide.

Economists on the Economy...
Are for the most part as deeply pessimistic as Paul Krugman, and bloggers are chiming in. This blogger comments on the differing views between Krugman and Nouriel Roubini: "Two men who were very pessimistic for a very long time, so much so that their analysis was frequently dismissed as hyperbolic, and who were subsequently proven to be more or less right about things, are now diverging in their assessments." Liberal Big Tent Democrat highlights Nobel laureate Joseph Stiglitz's criticism of Obama, dismissing it as such: "Stiglitz always hated Obama, and a Nobel in Economics does not mean squat." Robert Stein comments on Stiglitz's critique as well. Conservative Jonah Goldberg calls attention to another piece by an economist on what happened to the economy. The gist of the argument: "The boom (and the inevitable bust) are the product of misguided government policy, not unbridled capitalism." Eliot Spitzer disagrees. And Andrew Sullivan posts this music-video plea to Paul Krugman. Highlight: "We need you on the front lines / Not just writing for the New York Times."

An April Fools' Day Roundup
The Huffington Post contributes a video compilation of the best pranks this year, and this history of April Fools' Day. Conservative Jesse Walker is a fan of this National Geographic interview on the history of hoaxes. Dorian De Wind writes that the Norwegian aerospace industry has been hit by a Marxist-Leninist-Maoist prank. ABC reporter Jake Tapper has also been hit. Mary Kate Cary has had enough of the serious news for today, so she turns her attention to today's pranks as well. But who says you can't talk about pranks and be serious at the same time? This, at least, is what the Office of Management and Budget communications director was attempting when talking about the GOP alternative to Obama's budget. His words: "If you expected a GOP alternative to the failed policies of the past that got our country into the worst economic crisis since the Great Depression, then I have two words for you: April Fools'." And Slate's Jack Shafer posts a guide to avoid getting punked by the media.

... Meanwhile ...
Chinese hackers probably just got themselves into a whole world of trouble... Bolivian President Evo Morales believes the U.S. is clandestinely coercing Bolivia into daylight-saving time... Korn turns to God... And Sarah Palin's out, New Gingrich is in.