Krugman's latest

In recent weeks Paul Krugman has blamed Republicans for California's fiscal mess and Ronald Reagan for the current financial mess. Now he says that the U.K.'s left-leaning Labor party -- which has held power for just over 12 years -- is simply "unlucky" and shoulders little responsibility for the country's travails.

While this is thoroughly unsurprising, with Krugman's columns rather formulaic in nature in which the right is blamed for everything and the left absolved of any responsibility, it does include this rather stunning admission:

What would have happened if hanging chads and the Supreme Court hadn’t denied Al Gore the White House in 2000? Many things would clearly have been different over the next eight years.

But one thing would probably have been the same: There would have been a huge housing bubble and a financial crisis when the bubble burst.

I was under the impression that every economy misfortune that has befallen the U.S. in the last eight years was the fault of George W. Bush. Now we find out that the crisis would have happened regardless. Amazing what truths Krugman discovers after a change in the Oval Office.