Krugman lost it a long time ago. The final nail in the coffin was when he wrote that it actually was a good idea to mint a $1 trillion coin to dodge the legislation preventing to raise the U.S. debt ceiling.

If you're into economy at all you should know that disciples of Friedman did predict the precise situation the eurozone is in right now (including Spain unemployment, the Greek default, Italy and France struggling) before the first euro even circulated... Meanwhile Keynesians have never been able to predict anything more than two or three years before they happened.

Keynesians are ultra-short sighted but politicians loves them because they're basically telling them what they want to hear: more state intervention, create even more money (the $1 trillion coin was just ultra rubbish, really), etc.

His whole book "End this recession now" is a gigantic pile of shit.

The situation ain't good because of the Keynesian doctrine and yet these people want to do more of what does obviously not work: let's print more money.

I never had much sympathy for Keynesians but honestly since he wrote about that $1 trillion coin I've entirely lost interest.

He lost it.