Comment: Did he just say...

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Did he just say...

"Austerity hasn't worked in the United States"?!?! (about 4:40-4:55)

What planet has he been on? What austerity? Spending has gone through the roof since the collapse and it was already going through the roof before that.

And as for the European austerity, you ought to check out these graphs:

http://danieljmitchell.wordpress.com/2012/05/08/paul-krugman...

AUSTERITY NEVER HAPPENED!

Blaming the failed recovery on austerity is the same as blaming the crash on the free-market.

Lastly, he tells us the options are bailing out the banks (US and Euro) or bailing out the homeowners (Iceland). Isn't there a third option of bailing out neither?