More Sacrifices to Appease the Anger of the Bond Gods!

[lsanderson]

Appeasing the Bond Gods
By PAUL KRUGMAN
Published: August 19, 2010

As I look at what passes for responsible economic policy these days, there’s an analogy that keeps passing through my mind. I know it’s over the top, but here it is anyway: the policy elite — central bankers, finance ministers, politicians who pose as defenders of fiscal virtue — are acting like the priests of some ancient cult, demanding that we engage in human sacrifices to appease the anger of invisible gods. More