Fiscal conservatives and the Mayan calendar nuts: both wrong in their prophecies, Paul Krugman says once again:
" The key thing we need to understand, however, is that the prophets of
fiscal disaster...are at this point effectively members of a doomsday
cult. They...will hold to their belief no matter how many corners we
turn without encountering that crisis.
"So we cannot and will
not persuade these people to reconsider their views in the light of the
evidence. All we can do is stop paying attention. It’s going to be
difficult, because many members of the deficit cult seem highly
respectable. But they’ve been hugely, absurdly wrong for years on end,
and it’s time to stop taking them seriously."