Tighten Your Belts, You Greedy Poors!

This article by Paul Krugman in the NYT is so short I'll reproduce it here. Entitled Paging Robert Burns, it links to Burns' poem, To A Louse, which includes the line: "O wad some Pow'r the giftie gie us To see oursels as ithers see us!" (And I love the Times tag line for the article: "O wad some Pow'r the giftie gie us yada yada." I prefer "yadda, yadda, yadda," but ...)

This Bloomberg report from Davos is making the rounds:

Billionaire Jeff Greene, who amassed a multibillion dollar fortune betting against subprime mortgage securities, says the U.S. faces a jobs crisis that will cause social unrest and radical politics.

“America’s lifestyle expectations are far too high and need to be adjusted so we have less things and a smaller, better existence,” Greene said in an interview today at the World Economic Forum in Davos, Switzerland. “We need to reinvent our whole system of life.”

Later in the article: Greene, who flew his wife, children and two nannies on a private jet plane to Davos for the week …