We've come to save your economy.
"The Truth is out there," Special Agent Fox "Spooky" Mulder used to say on the television series The X-Files as he and his partner hunted down unexplained phenomena and searched for extraterrestial life. For Paul Krugman, economic Nobel Prize recipient, the truth is way, way out there as he hunts down economic fallacies and tries to make them true.
On the Fareed Zakaria show on CNN, Krugman offered this suggestion, "If we discovered space aliens were planning to attack and we needed a massive buildup to counter the space alien threat and, really, inflation and budget deficits took secondary place to that, this slump would be over in 18 months."
Umm, yeah. Sure, Mr. Krugman, if there were a looming space alien threat, and the world changed its production scheme to build up against this threat, maybe this slump would be over in 18 months. Apple could switch focus from producing tablets to making viruses for alien spacecrafts. The unemployed would get a boost digging underground bunkers. The IRS, unable to collect tax revenue, could re-form as the MIB. The TSA, with their expertise in the matter, could become sabatoer volunteers for alien probing. Lockheed could, well, just continue what they were already doing. I just hope the alien invaders would wait 18 months for our economic recovery before attacking.