Wackonomics

[alexamenos]

David Brooks helps Krugman look like a serious economist:

Global capitalism is an innovative force, they [Republicans] could argue, but we have been reminded of its shortcomings. When exogenous forces like the rise of China and a flood of easy money hit the global marketplace, they can throw the entire system of out of whack, leading to a cascade of imbalances: higher debt, a grossly enlarged financial sector and unsustainable bubbles.

China, a country on the rise in no small part because it has gone capitalist pig, and government banks printing money....these are short comings of a free market???

Brooks seems to get that 'higher debt, a grossly enlarged financial sector, and unsustainable bubbles' are intrically linked with a flood of easy money, so I suppose that's a step forward.