Tuesday, December 16, 2008

Krugman makes a funny

Paul Krugman can't resist taking a jab at "Bob Corker, the Senator from Nissan — I mean Tennessee — and his fellow Republicans, who torpedoed last week’s attempt to buy some time for the U.S. auto industry. (Why was the plan blocked? An e-mail message circulated among Senate Republicans declared that denying the auto industry a loan was an opportunity for Republicans to “take their first shot against organized labor.”)"

The suggestion Krugman is making is that Corker's state -- which has a Nissan plant -- stood to gain from the concessions Corker was seeking to negotiate from the United Auto Workers in return for federal loans to Nissan's competitors GM, Chrysler and Ford. But there's a problem, Paul, with your logic. Those concessions would have made the Big Three more competitive, harming Nissan which is not a unionized plant.

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