L-Kabong and Ricter are mindless drones, here is the transcript of another interview with Lou Dobbs and Krugman in 2001, where krugman says the keyensian thing to do was cause a housing bubble. DOBBS: To restimulate business investment, capital investment and corporate buying? KRUGMAN: I think frankly it's got to be -- business investment is not going to be the driving force in this recovery. It has to come from things like housing, things that have not been (UNINTELLIGIBLE). DOBBS: We see, Paul, housing at near record levels, we see automobile purchases near record levels. The consumer is still very much in this economy. Can he or she -- or I should say he and she, can they bring back this economy? KRUGMAN: Well, as far as the arithmetic goes, yes, it is possible. Will the Fed cut interest rates enough? Will long-term rates fall enough to get the consumer, get the housing sector there in time? We don't know. DOBBS: Your column today, you talked about Keynesian economics and how we've become adopters, if in denial, of it, adopters of Keynesian thinking, and our economic policy. How could you be so cynical? KRUGMAN: No, I mean, look, it -- is anybody saying for the U.S. economy, Greenspan is wrong to try prevent the recession? We should have the recession, we should purge. The budget isn't as good as we thought. We should raise taxes, which are all of the things of course that we tell countries like Argentina. But for ourselves, no, we believe in cushioning ourselves from these things.
Yeah i did read the article, and if you really believe that krugman was simply pointing out what the fed was doing, but not cheering for it then you are an idiot. Remember we are talking about the same guy who now says we have no inflation to worry about, and wants Bernanke going to QE infinity, and always rags on him for not going far enough. So supposedly, Krugman knew exactly what the keynesian solution was, but he didnt want to go along with it? LOL, give your head a shake.
What's sad is you can't seem to figure out krugman agrees with the assessment evidently because mcculley stated it better. you and bong are such fvcking tools it's hilarious
\]L-Kabong and Ricter are mindless drones, here is the transcript of another interview with Lou Dobbs and Krugman in 2001, where krugman says the keyensian thing to do was cause a housing bubble. DOBBS: To restimulate business investment, capital investment and corporate buying? KRUGMAN: I think frankly it's got to be -- business investment is not going to be the driving force in this recovery. It has to come from things like housing, things that have not been (UNINTELLIGIBLE). DOBBS: We see, Paul, housing at near record levels, we see automobile purchases near record levels. The consumer is still very much in this economy. Can he or she -- or I should say he and she, can they bring back this economy? KRUGMAN: Well, as far as the arithmetic goes, yes, it is possible. Will the Fed cut interest rates enough? Will long-term rates fall enough to get the consumer, get the housing sector there in time? We don't know. DOBBS: Your column today, you talked about Keynesian economics and how we've become adopters, if in denial, of it, adopters of Keynesian thinking, and our economic policy. How could you be so cynical? KRUGMAN: No, I mean, look, it -- is anybody saying for the U.S. economy, Greenspan is wrong to try prevent the recession? We should have the recession, we should purge. The budget isn't as good as we thought. We should raise taxes, which are all of the things of course that we tell countries like Argentina. But for ourselves, no, we believe in cushioning ourselves from these things.
You're mindless, Max, because all you know of Krugman is what you google momentarily to counter the argument of the day. In other words, you have no context. Krugman's description of the recession of 2001 was "irrational exuberance", does that sound like a compliment to you, something to be pursued? Do you think he means a bubble of that irrational kind? If he was indeed advocating a bubble of that kind, which we ended up getting, I should not be able to find writings after this particular piece which identify or warn against a housing bubble, should I? I'll concede he could have chosen a better word than "bubble". The Fed has lowered rates, where's the inflation? This latest crisis was driven by Sino and Petro dollars and the collateral chains they enable, not Fed dollars.
You're the "dumb ass", you're flat on on back but you're still throwing kicks and punches. Haven't you heard? The WORLD is rejecting anti-Keynesianism, because it does NOT work (under the present circumstances).
Exxcept that it has been the practice of Keynesian economics which has not worked, 4 straight years of trillion + deficits with spending at all time highs, and taxes at all time lows, how much more keynesian than that can you get? And the only response from you keynesian bozos when it fails is, we need to spend even more, thats the beauty of your religion, you have the out that you didnt spend enough, when your ideology fails again and again and again.