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Politics : View from the Center and Left

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To: Jeff Hayden who wrote (143987)	9/10/2010 2:35:54 PM
From: Steve Lokness	Read Replies (1) of 541922

Jeff; You are FLAT WRONG Then you explain how Krugman proposes to get back to a bubble economy without creating another bubble? After the wall street bubble at the end of the Clinton term and when the economy started to correct, Krugman boldly argued for more stimulus. he argued for a stimulus in housing in 2002 or 2003 I think it was. Greenspan and Bush accommodated with easy money (a stimulus of a different kind) and the result was another bubble even bigger than the previous one - the housing bubble. As that bubble tried to correct, Krugman has been pounding the table for a bigger stimulus - three times what the Obama stimulus was. But no matter what you think the only way to get back to an economy of the likes of the last two bubbles - is to create another bubble. Problem is, all these tries to keep the economy going at an unsustainable level continue to add to the deficit. You may feel comfortable heaping that debt on your children, I'm not. I do not share Cheney's and your beliefs that deficits don't matter. They don't matter until they do and then they REALLY matter.

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