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[bob ford <bobford79 AT yahoo.com>]

I find brilliant liberals like Paul Krugman infuriatingly difficult to 
undertsand.  I don't doubt his intellectual prowess, though I don't like his 
politics.  But, this is a small blurb in today's paper.  he is admitting that 
the Big 3 auto companies will fail, but he has already advocated their 
bail-out, just as he advocated bailing out his luncheon buddies from Wall 
Street.  Maybe this is all politics and no science? ................

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   Nobel winner: U.S. auto industry will likely disappear 

 


STOCKHOLM (AP) 

 — Nobel economics prize winner Paul Krugman said Sunday that the beleaguered 
U.S. auto industry will likely disappear.

"It will do so because of the geographical forces that me and my colleagues 
have discussed," the Princeton University professor and New York Times 
columnist told reporters in Stockholm. "It is no longer sustained by the 
current economy."

Krugman won the $1.4 million Nobel Memorial Prize in economics for his work 
on international trade patterns. Some of his research on economic geography 
seeks to explain why production resources are concentrated in certain 
locations.

Speaking to reporters three days ahead of the Nobel Prize ceremony, Krugman 
said plans by U.S. lawmakers to bail out the Big Three automakers were a 
short-term solution, resulting from a "lack of willingness to accept the 
failure of a large industry in the midst of an economic crisis."

Facing massive job losses, the White House and congressional Democrats are 
negotiating a deal to provide about $15 billion in loans to prevent the 
weakened U.S. auto industry from collapsing.