Spikender
Member
- Joined
- Nov 27, 2011
- Messages
- 4,596
He fought the wall, and the wall won.
Now that I think about it, that same wall could probably beat Krugman in a fistfight.
He fought the wall, and the wall won.
Debt, when controlled, can be helpful to growth. Ex: A restaurant seeking capital to expand and hired more. We are past that point. A loan to keep that restaurant open when it is operating in the red and prevent restructuring because the customers are around the corner is not wise. The debt started as the former. Now the country is acting like the latter.
The funny thing is, we aren't going further in debt because we think customers are around the corner.... we just like free money, with basically zero intention of ever paying it back
"To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble."
- Paul Krugman, 2001
Did he actually say that the euro is like the gold standard?
/Facepalm
Did he actually say that the euro is like the gold standard?
/Facepalm
Sounds like Krugman is still butthurt from the 1 on 1 debate on bloomberg....hahaha