If it's any consolation to you lot, whilst in an earlier post I said that things were relatively OK in Australia, the UK and Europe, I didn't have room to say that your Chicago School stuff caught on with conservative politicians just about everywhere and it won't be too long before we're all in the same boat.
It's just that what some of you disparage as 'socialism' - and the Real Keynes (I'll explain later if necessary) - was too deeply entrenched to get as easily destroyed as in the US.
In Britain Margaret Thatcher was a great chum of Reagan (and fan of Ayn Rand) and she started the rot that's spread like the plague in the "Western World" (which includes Australia in all important senses).
So, if it's any consolation, we'll all be in the same boat sooner or later - much sooner if Iran gets attacked.
Labels get complicated, but in Australia the Liberal Party = Reps (more or less) and the Labor Party = Dems (more or less) and these days, as in the US, they are two sides of the same coin.
Krugman wouldn't get any more of a look-in here than he does in the US - just to illustrate the point.
Read the Article at HuffingtonPost
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