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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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From: koan2/14/2009 9:49:08 PM
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Few dispute the need for some kind of stimulus, but has Obama got the details right? The Republicans do not think so and, led by Gregg, they are already shunning the president’s bipartisan overtures.

Perhaps more worrying for the president is that some of his natural liberal supporters are not feeling all that confident either. In a telling commentary last week, Paul Krugman, the 2008 Nobel prize-winning economist, declared that Obama’s stimulus victory “feels more than a bit like defeat”.

Krugman added: “I’ve got a sick feeling in the pit of my stomach – a feeling that America just isn’t rising to the greatest economic challenge in 70 years.”<<

Obama ashould be listenting to Krugman he is smarter than Summers or Geitner!
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