Saturday, July 03, 2010

The Invisible Bond Vigilante and The Confidence Fairy.

Op-Ed Columnist - Myths of Austerity - NYTimes.com: "So the next time you hear serious-sounding people explaining the need for fiscal austerity, try to parse their argument. Almost surely, you’ll discover that what sounds like hardheaded realism actually rests on a foundation of fantasy, on the belief that invisible vigilantes will punish us if we’re bad and the confidence fairy will reward us if we’re good. And real-world policy — policy that will blight the lives of millions of working families — is being built on that foundation."

http://www.nytimes.com/2010/07/02/opinion/02krugman.html?ref=opinion
con·cept: The Invisible Bond Vigilante and The Confidence Fairy.