The piece is almost undebunkable because it’s so big and unwieldy and, frankly, because it doesn’t really try to make a coherent argument.
We were curious if Krugman was going to take on the piece, since it appeared in his own paper.
Alas he has delivered in a short, brutal post titled Cranky Old Men.
It’s cranky old man stuff, the kind of thing you get from people who read Investors Business Daily, listen to Rush Limbaugh, and maybe, if they’re unusually teched up, get investment advice from Zero Hedge.
This is really the essence of it. There are a bunch of scared old guys who can only remember the dangers of inflation, and who lap up content about how doomed the world is, and love hearing how dumb powerful people are. That’s who all of these folks pander to.