http://news.google.com/news?pz=1&ned=us&hl=en&q=niall+ferguson+paul+krugman&cf=all&scoring=n Notice that Krugman answers Ferguson with arrogant and insulting disdain for the questioner, not with logical reasons. The bond market just threw a huge egg on Krugman's face, but the self-important idiot still thinks he's right. Ferguson has a huge advantage over Krugman: he knows History very well. Krugman is just a Keynes worshipper. But unlike his demi-god, the facts will not make him change his mind.