View from the Center and Left Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : View from the Center and Left

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Mary Cluney who wrote (113542)	6/16/2009 6:02:06 PM
From: Steve Lokness	Read Replies (1) of 541778

Mary; From Krugman's August 2002 editorial; To fight this recession the Fed needs more than a snapback; it needs soaring household spending* to offset moribund business investment.* How can you read that to mean anything but that Krugman wanted the consumer to spend much more to pick up for lack of business spending? He says exactly that. What does urging for "soaring household spending" mean to you? Yes Krugman blames the slump - the recession - on Bush tax cuts and popping of the bubble but what he clearly doesn't understand that he is proposing to inflate yet more the bubble just forming. His thinking is much worse than that though - for he has not a clue as to how the consumer is going to manage all the debt (with soaring spending). He then doesn't learn from that mistake by urging Obama to increase his stimulus plan by a magnitude of three! steve

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next