I'm especially baffled by the idea of taking insurance against a U.S. default. If America defaults, we're talking about a chaotic world - Mad Max, more or less - in which case, who imagines that insurance claims will be honored?
Paul KrugmanI admit it: I had fun watching right-wingers go wild as health reform finally became law.
Paul KrugmanWhen stock prices are rising, it's called ''momentum investing''; when they are falling, it's called ''panic.''
Paul Krugman