Paul Krugman is Right

Newt Gingrich is a, "Stupid Man's Idea of What a Smart Man Sounds Like."

Case in point, Newt Gingrich seems to think that making the Federal Reserve like the European Central Bank is a good thing:

If Newt Gingrich were president--something that has recently at least entered the realm of plausibility--the Federal Reserve would no longer worry about trying to create jobs, and would focus instead only on controlling inflation. And wealthy financial industry tycoons like Warren Buffett would likely get a big tax cut.

………

The Federal Reserve has two tasks under the law: to keep inflation low, and to achieve maximum employment. Gingrich wants to end that "dual mandate," so that the central bank would focus solely on inflation.

So it's back to expansionary austerity, which is tearing the Euro Zone apart right now.

We are looking at a breakup of not just the Euro, but the real possibility of a breakup of the European Union because of this sort bloody-minded imbecility.

It's amazing just how much the press seems to eat up the idea of Newt as an intellectual, while pretty much everyone who has ever worked with him seems to think that he's an unstable wanker.

My money is on everyone who has ever worked with him.
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