Friends Let Friends Read the Wall Street Journal Editorial Page Only If They Promise to Immediately Trade Against It

Paul Krugman observes that the Wall Street Journal editorial page has one use: the fact that there are poor fools--whom we pity--who believe it opens up profitable trading opportunities for the rest of us:

Krugman:

Two Point Nine One: Remember this? May 29, 2009:

They’re back. We refer to the global investors once known as the bond vigilantes, who demanded higher Treasury bond yields from the late 1970s through the 1990s whenever inflation fears popped up, and as a result...