Paul Krugman has come out in favor of Occupy Wall Street. I believe he is the first former Enron adviser to do so. He writes:
I, at least, am a lot more offended by the sight of exquisitely tailored plutocrats, who owe their continued wealth to government guarantees, whining that President Obama has said mean things about them than I am by the sight of ragtag young people denouncing consumerism.
To recap: Today Paul Krugman excoriates the high-toned and celebrates the denunciation of “consumerism” in the New York Times. Here are the first ten advertisements in today’s issue of the paper, in order with no exclusions: Chanel (a $6,500 purse), Tourneau/Rolex (a $23,000 watch), Cartier (the ring is a bargain at $525!), Salvatore Ferragamo (an $860 pair of boots), Tod’s (a $745 pair of boots), Johnny Walker Double Black ($70 a bottle), Leviev diamonds (prices on request; a necklace is reported to have sold for nearly $2 million), Tiffany & Co. (a $9,500 enamel ring), MaxMara (a $775 pair of boots), and Ermenegildo Zegna (I wasn’t able to find a price for the waffle cashco coat advertised, which looks quite nice, but the firm would be happy to sell you a $20,000 briefcase or a $4,500 jacket, no doubt exquisitely tailored).
So, what’s the point? That Paul Krugman is a silly hypocrite who is more than happy to take Wall Street’s dime, so long as it is laundered through Tiffany’s and the Times advertising department? That’s true, but that’s not the real point. It is always worth keeping in mind that Barack Obama was borne into Washington on a flood of Goldman Sachs money (he was the largest recipient of the firm’s political donations that cycle), that liberal Democrats such as Senator Schumer have been dedicated defenders of the tax treatment that allows some Wall Street fund managers to pay a top marginal tax rate of 15 percent, that the Left’s great sugar-daddy, George Soros, has once again seen his conviction on insider-trading charges confirmed, that Hillary Rodham Clinton was a surprisingly apt futures speculator in business with some dodgy folks and making trades she didn’t have the money to cover, and that Paul Krugman, right up until he started taking the Times’s dime, was taking Enron’s dime, to the tune of $37,500 for four days of work.
I’m a conservative. You may be a communist. But if you’re voting Democrat because you think the other guys are in the plutocrats’ deep pockets, you are a chump.