NP - Toryism (Austerity) Isn't Working.

[alice wellintown]

Japan again? Oh sure, Krug can use clever rhetorical stratgies and
ignore the real differences in these economies, but now he's gone too
far. NYT readers probably don't know all that much about Japan or
Japanese conomics or politics, but they know enough, I assume, if they
read the Times and are interested in Japan and Economics, but most
people don't know why Japanese bond yields are low or even how to
compare the Japanese yield curve with the US or Euro-curves. Why
should they? So, when Krug, who usually stays away from esoteric
arguements, even as he takes on Ben's publications, supports his
argument with Japanse bond yields, readers with a clue laugh almost as
hard as they do when Morris tries to say anything about economics.