Krugman's voodoo economics

Krugman is very depressed these days. Yeah, me too, but for different reasons. Not to worry, though. There has been no conversion for yours truly. Nope. Here's the problem- although Krugman can write something that is ostensibly true, that budget deficits can help fight a contraction, what he doesn't show is that it brings prosperity. Here's what caught my eye:

Then there’s the assertion that bond yields might rise. Well, sure, and there might be a flu outbreak or whatever. But nothing in recent experience suggests that countries with their own currencies are at risk from an attack by bond vigilantes — Japan’s 10-year rate, after more than a decade of warnings that the bond crisis was coming any day now, is 0.91 percent.

Japans debt is horrendous.  Yet Japan has endured a long bout of slow growth.  Did all of that Keynesian spending pull Japan out of its morass?

All of that spending may have made some people feel better, but it doesn't cure what ailing you.  For that, you actually need to do a little more thinking, and less sloganeering.   Voodoo economics?  Whatever the slogan, it worked.  Prosperity returned under Reagan's stewardship, and it took a lot less time than Obama claims that he needs.  Maybe Obama needs as much time as Japan has had, and when that two decade disaster has finished, he will still claim that he didn't have enough time.