Wednesday, June 10, 2009

Krugman: 'Gordon the Unlucky'

(That would be Britain's Prime Minister Gordon Brown, of the Labor Party.) Column here.

What would have happened if hanging chads and the Supreme Court hadn’t denied Al Gore the White House in 2000? Many things would clearly have been different over the next eight years.

But one thing would probably have been the same: There would have been a huge housing bubble and a financial crisis when the bubble burst. And if Democrats had been in power when the bad news arrived, they would have taken the blame, even though things would surely have been as bad or worse under Republican rule.

You now understand the essentials of the current political situation in Britain. . . .

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