The way I see it, Krugman has begun to come to terms with Obama. He actually put thought into this article. It's not a reactionary tirade, which I would suggest characterized the last 4 months of his columns against Barack Obama. It is rather an honest assessment of the two candidates and the the state of American politics in our country. I disagree with a few of the things he says, such as his criticism (which, is toned down now) of Obama's healthcare policy proposal, but in the end he does a good job of revealing opposing viewpoints and coming to a conclusion on what the rise of Obama and the fall of the Clintons might do to the Democratic Party.
However, I would like to further elaborate on his points and take the analysis a little further. I don't think the recriminations within the party will be as severe once Hillary drops out of the race, so unless she wins I don't see the Party falling apart (unless Obama loses the general). I don't see Obama losing in the general election unless some huge blind-siding issue from a change of domestic and international circumstances surfaces that favors the Republicans. An Obama nomination and a general election loss is basically no different than a Hillary nomination and loss, except that we know the Party will be divided the day after Hillary's nomination, rather than the day after the election. So, I guess Krugman's argument that the party will be torn apart if the “magic” doesn't work in the general election is correct, but he fails to compare this to a Hillary nomination and loss, which would likely tear the party apart at the nomination. This would be before the Party even had a chance to win the election.
Krugman fails to acknowledge what happens in a Hillary nomination and loss. Perhaps it is not necessary to think about that anymore now that Obama looks to secure the nomination Tuesday. But, tomorrow has not come yet. So, Krugman should have further analyzed both sides of the issue rather than just focusing on what an Obama nomination and loss looks like. If he takes the analysis further and looks at what a Hillary nomination and loss would mean, the picture is probably bleaker.
I will give Krugman credit for coming around on Obama. While I was singing the praises of Brooks' columns on Obama and offering criticism of Krugman, many, especially at Bleeding Heartland, said that Krugman would come around and that Brooks would turn his shoulder the other way once the nomination was secured. I think we are seeing the beginning of Krugman's turnaround. We will see what Brooks does.