Situation deeply abnormal

Paul Krugman writing in today's New York Times: “The economic situation remains deeply abnormal, with unprecedented long-term unemployment; why should monetary policy be normal? . . . .To return to a regular theme of mine: we’re living in a world in which Very Serious People keep inventing theories and justifications on the fly to justify policy orthodoxy in a highly unorthodox situation; meanwhile, those of us who rely on actual, coherent analysis based on standard economics are considered dangerous radicals.” Still Crazy After All These Months - NYTimes.com