Paul Krugman: ‘So here’s my theory: Michael Oxley, Harvey Pitt and George W. Bush are all Communist moles who have worked their way into the center of the capitalist system in order to destroy it. How else can you make sense of their actions?

It’s true that in July they grudgingly agreed to a corporate reform bill, which briefly calmed the growing investor panic. That was because it’s essential for them to control Congress— they need maximum leeway to wreck the U.S. economy. But then they found a better answer. Saber-rattling over Iraq does double duty. It distracts the media: on Wednesday the Dow fell 215 points, hitting a nearly five-year low, while consumer confidence fell to levels not seen since 1996, yet neither story was treated as front-page news. And war talk itself helps depress stocks and consumer confidence, and further undermines the economy.’ NY Times