I will let others deal with the subject of Krugman's latest rantings, Marginal Revolution has a good wrap-up, but I was struck by the pure idiocy of the last paragraph. I can read the words, but what the hell is he trying to say?
If it were up to me, I'd block the Chinese bid for Unocal. But it would be a lot easier to take that position if the United States weren't so dependent on China right now, not just to buy our I.O.U.'s, but to help us deal with North Korea now that our military is bogged down in Iraq.
Is he implying that if our military were not involved in Iraq, then they would be free to invade North Korea? Is that his proposed solution? If we were not in Iraq would we not need to deal with North Korea? What exactly is the connection? One has the feeling that he is just throwing random thoughts on the page hoping to include Iraq in here somewhere. Additionally, is the fact that we are getting China involved in resolving our troubles with North Korea a bad thing. I thought "unilateralism" was a bad thing. Now multilateralism apparently is. Pure drivel...