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Economic Crisis - Deficit hawks deserve a punch in the kisser

"I’m gonna haul out the next guy who calls me 'crude' and punch him in the kisser." Not the usual prediction one expects from a Nobel prize-winning economist, but that's what neo-Keynesian Paul Krugman has written on his blog, driven to exasperation by his deficit hawk detractors - those who want to cut the deficit as quickly and dramatically as possible.

But aren't these wild threats just the desperate words of an economist who has got it wrong? Hasn't the right won the argument about austerity? Or will time – and a double dip recession – prove the expansionists right after all?

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