Paul Krugman’s non-contradiction: In a blog post about Newt and Freddie, Paul Krugman explains the facts of life about Freddie Mac.
That said, a sad fact about American life lurks in this short presentation:
KRUGMAN (11/16/11): The thing I think people find hard to wrap their minds around is the following non-contradiction:We don’t know if people find it hard to wrap their minds around that particular non-contradiction. That said, it’s obvious that point 1 and point 2 do not contradict each other—“are not opposing statements.”
1. Freddie Mac was a deeply corrupt institution
2. Freddie and Fannie did not cause the financial crisis
These are not opposing statements. Those of us attacking the Big Lie about the financial crisis are not defending Freddie.
A second fact is obvious: As a nation, we are simply too unintelligent to process a non-contradiction like that. Simply put, a conundrum like that is far too complex for our mainstream press corps. The problem spirals from there.
At present, you are seeing the nation’s pundit-manned lynch mob running through the streets. Our pundits are very unintelligent. In particular, they have almost no ability to read elementary texts.
That can’t distinguish between the things a text really says and the stray thoughts that have run through their heads. And once they get one of their group stories going, nothing on earth can change it.
“Man [sic] is the rational animal!” From the earliest days of the west, this has been a basic tenet within our culture. But your press corps is almost impossibly stupid. They can’t read and they can’t reason; they can’t distinguish the ghosts from the facts. They chase after fame and recite preferred narratives.
A non-contradiction like the one Krugman cites is truly beyond their ken.
Our pundits have killed their targets before. Trust us—they'll do so again.