Yours truly had heard of a joke some years back, which goes:
Q – Why did God create Economists?
A – To make weathermen look good.
Of course, forecasts were the key to understand the joke.
But having known about Paul Krugman winning the Nobel for Economics, it was imperative that yours truly would google him. And salute him all the way, for his analysis of trade patterns and where economic activity takes place.
Some people just have it, they possess it and they know how to deliver it. They can spot a paintbrush and do a da Vinci out of it, while people like us, would not imagine beyond whitewashing the backyard with it.
Kudos to Krugman, for he has a sense of satire too (something this weblog tries to achieve)…
Not because he can analyze trade patterns, but he can spot what has to be spotted. For they know they can visit the past, to learn something that should be averted in future. Yours truly found this post by Krugman, and would like to share it…
Please have a look at how he looks at the present global crisis, through something that happened in 1979. It’s just not economics, it’s the way you see things, and try to make a difference.
Paul Krugman writes:
In the long run we are all dead
But in the short run some of us can’t get buried because of the credit crunch:
The spectre of the Winter of Discontent threatened to return to haunt Labour last night after funeral directors revealed that the burial of ‘hundreds’ of bodies is being delayed for financial reasons.
In a bleak new sign of the growing economic crisis, hard-up families are having to wait more than two months before receiving Government money for funerals.
Organisations representing undertakers accused the Government of putting them in an ‘impossible’ position by dragging their feet over burial costs for poor families.
Previously, undertakers would pay for the cost of funerals and wait to be reimbursed by the State, but the lack of credit in the banking system means many firms can no longer afford to do so.
HT my wife, who lived in England for a while and still enjoys reading the tabloids.
Thank you Mr. Krugman, for making the weathermen still look bad…