May 23, 2005

Paul Krugman predicts!!!

Well, sort of.

Here's the end of his current column in the NY Times:

Everyone loves historical analogies. Here's my thought: maybe 2004 was 1928. During the 1920's, the national government followed doctrinaire conservative policies, but reformist policies that presaged the New Deal were already bubbling up in the states, especially in New York.

In 1928 Al Smith, the governor of New York, was defeated in an ugly presidential campaign in which Protestant preachers warned their flocks that a vote for the Catholic Smith was a vote for the devil. But four years later F.D.R. took office, and the New Deal began.

Of course, the coming of the New Deal was hastened by a severe national depression. Strange to say, we may be working on that, too.

Now go read the rest of the column to see how Krugman got there.

Posted by Magpie at May 23, 2005 08:54 AM | US Politics | Technorati links |