Krugman agrees with O’Rourke

Paul Krugman has a written a blogpost commenting favourably on Kevin O’Rourke’s recent blogpost on

15 replies on “Krugman agrees with O’Rourke”


Dont be coming over here reading our blog without leaving at least a thank you blog post!
Who do you think you are?
A- Google
B- Facebook
C- Microsoft
D- Nameless IFSC entity

No disrespect to Kevin O’Rourke, but Krugman gave his verdict first. A few days ago he wrote:

It’s as if we’re having the following dialogue:

“Ireland really can’t afford to pay these debts.”

“Here’s a credit line!”

“No, really, we just can’t afford to pay.”

“Here’s a credit line!”

It really is like watching a car wreck.

Economics is useless at this point, which may partly explain what has economists are so agitated.

Reality is that we need Von Clausewitz not Samuelson

“Everything in war is very simple. But the simplest thing is difficult. “

@ Al

can you imagine if Krugman came on here, started putting on some comments, and then got into a squabble with Greg? Jebus, that’d be pay-per-view stuff…


Who is Samuelson ? I thought we relied on St. Thomas Aquinas and St. Patrick!

In Fintan O’Tooles book Ireland the Rise and the Fall I found the ideal epitaph for the Celtic Tiger “Masturbation is a bigger sin than tax evasion”. A sub theme is we never made the transition from a religious society to a civil society. We lost religion before we found economics.

@ Eoin

I think Prof Krugman is busy with Niall Ferguson at the moment?
Lets bring it on, handbags all the way!
Who is going to play me in the movie of this all in years to come….

From “Watching CNBC today one of the market commentators described Irish debt as being so toxic that it has the same half life as plutonium.”
The choices are now as follows: Default on bank debt now or default on sovereign debt later.
When our banks issued funds under the ELG their share price indicated they were probably insolvent. It would be better not to default on this debt but it is in our vital national interests not to default on sovereign debt. If the sovereign debt is in serious danger then we must default on the ELG debt. Better to torch the discredited dishonest government deemed para quasi statal debt.

I see this posted on the site – it’s an Irish political discussion site smaller and more to the left than is to the right.
“Eamon Keane was standing in for Tom McGurk on 4FM this afternoon. He was speaking to Eddie Hobbs and Peter Matthews and sounded full of the joys of life. First time I’ve heard him since he left Newstalk and I hope its not the last.
Anybody know if he is going to be back full time as a presenter somewhere?”
Good to see him back and that he is interviewing Peter Matthews.

@ all
Just a suggestion – but could someone who knows him ask Prof Krugman to write an article about this in a German or French publication?

Or maybe set up ask him to deign to help stiffen the spine of some politicans who might be willing to spike this “rescue” and send the eurocrats back to the drawing board.

I’m still waiting for Jackie Healy-Rae and Michael Lowry to play the Spartans at the pass of Thermoplayae on this 🙂

@Celtic Phoenix

Is that using the new “non-IFSC” data definition of “Irish banks” or the old “including IFSC” data definition which can be extremely unrepresentative of the Irish domestic banking sector?


Are you friendly with PK? Is this why he has had an unhealthy habit of making scathing comments about Ireland over the past couple of years? Could you not “phase him out” as we popular people say? Just cut down on the email and phone calls and say you are too bust too meet up when you are in the same neck of the woods.

” Is this why he has had an unhealthy habit of making scathing comments about Ireland over the past couple of years?”
Krugman is commenting on the country’s situation and policy, which are the responsibility of the present government and the previous government. The green jersey is wearing really thin. Chronic overmongering I believe.

Comments are closed.