Although he was one of Barack Obama’s most fervent supporters two years ago, New York Times columnist and blogger Paul Krugman seems to have lost his faith in the president’s ability to “radically transform” America. Put differently, the Nobel Prize winning economist’s heart is broken:
I’m with Simon Johnson here: how is it possible, at this late date, for Obama to be this clueless?
The lead story on Bloomberg right now contains excerpts from an interview with Business Week which tells us:
President Barack Obama said he doesn’t “begrudge” the $17 million bonus awarded to JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon or the $9 million issued to Goldman Sachs Group Inc. CEO Lloyd Blankfein, noting that some athletes take home more pay…
Oh. My. God.
He then continues to repeat the same leftist talking points we’ve heard ever since the economy first collapsed: evil bankers are to blame for the economic crisis, baseball players are not, the crisis has proved beyond a shadow of a doubt that capitalism doesn’t work, and so on. You know the drill.
That’s not so interesting. What is interesting, however, is that Krugman is one of many die hard progressives who have fallen out of with the man who they once considered to be their great messiah. It’s all quite sad – and especially disappointing – to them of course, but I’ve got to admit that I’m enjoying myself tremendously; schadenfreude truly is a blast.