“One reason is that I have better things to do with my time. Another is that I don’t think my instant reactions to things are especially interesting. But I have to admit that I’ve also been aware for some time how many people end up destroying themselves by tweeting something really offensive. Why do people do this? Well, it turns out that many prominent people have inner demons of one kind or another — often homophobia, but also racism, sexism, or just some kind of generalized contempt for large numbers of other people. And social media make it all too easy for those demons to slip out in front of a large audience. I don’t think I have any demons like that, but who knows? And if I do make uncomfortable discoveries about myself, I’d like to do it in private, thank you.” [NYT via DI]
Sayeth Kruggles: “Yes, I’ve heard about the notion that I should be nominated as Treasury Secretary. I’m flattered, but it really is a bad idea. Part of the reason is that I am indeed the World’s Worst Administrator — and that does matter. Someone else can do the paperwork — but an administrative job requires making hiring and firing decisions, it means keeping track of many things, and that, to say the least, is not my forte…officials inside the administration can of course have even more influence — but only if they’re good at a very different kind of game, that of persuading the president and his inner circle in behind-closed-doors discussion. And everything I know about myself says that I’m not very good at that game. By my reckoning, then, an administration job, no matter how senior, would actually reduce my influence, leaving me unable to say publicly what I really think and all too probably finding myself unable to make headway in internal debates.” [NYT, related]
Based on a second-hand rumor that a big hedge fund’s position is getting liquidated because of margin calls. With gold at a new record we’ll guess not. Krugman himself allows that he’d like/hope for this to be the case on account of that BusinessWeek article that implied Paulson might be smarter than him from over a year ago.