This debate will be decided by what happens in the US Treasury Bond Market in the days and months ahead. And all indications point to an unhappy ending, absent a massive economic boom.
I am going to stab you in the dickhole with a rusty pick axe. (Sorry Cant let this place get too civil.....)
Maybe we could get futurecurrents involved in the QE debate to liven it up and make sure it doesn't move forward. Oh, wait. He doesn't know anything about the topics he argues already!
This paragraph in and of itself is enough to show exactly why commies are dead wrong. In your diatribe you use people like greenspan as an example of why the free market doesnt work, except greenspan is the text book defitniition of a centrally planned economy. There was no free market under greenspan, its kind of funy that you would even imply that was a frree market when rates and lending standards were intentionally kept artificially low. To blame our faults in the U.S. on the "free market" is almost as idiotic as blaming the housing bubble in China on the free market, at the same time the government forces them to invest in real estate.
My understanding of economics was forged during the late 1970's. early 1980's with Milton Friedman and of course Volcker's unpopular, but necessary decisions as Fed Chairman. Then came LTCM in 1998 and bubble-land was aided and abetted by Greenspan and the current crop of adherents. I have had to throw out the Econ. textbooks, and find only Jim Sinclair and Martin Armstrong worth reading. Krugman should change fields of endeavor and get out of economics, but there has to be two sides. Just an opinion.
Perhaps pie should have answered my questions instead , since I've never needed to take a college econ class in my life.