It often amazes that liberals in this country revere New York Times columnist Paul Krugman as being an expert economist.
Take for example Friday's intellectually challenged piece entitled "Bernanke's Perry Problem" in which the Nobel laureate accuses prominent Republicans such as the Texas governor and Wisconsin Congressman Paul Ryan of preventing the Federal Reserve chairman from enacting monetary policy that would save the economy:
[I]nvestors around the world are anxiously awaiting Ben Bernanke's speech at the annual Fed gathering at Jackson Hole, Wyo. They want to know whether Mr. Bernanke, the chairman of the Federal Reserve, will unveil new policies that might lift the U.S. economy out of what is looking more and more like a quasi-permanent state of depressed demand and high unemployment.
But I'll be shocked if Mr. Bernanke proposes anything significant -- that is, anything likely to make any serious dent in unemployment or offer any serious boost to growth.
Why don't I expect much from Mr. Bernanke? In two words: Rick Perry.
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