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Politics : View from the Center and Left

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To: Paul Smith who wrote (147929)	10/23/2010 9:31:19 AM
From: Steve Lokness	Read Replies (1) of 543041

I'm not sure it is accurate to label him as an economist. By his own admission he hasn't done any real thinking about economics in a long time. I believe he is trying to salvage his economic theories reputation. That's to be expected I guess. What is frustrating to me is that Krugmans ideas are fairy tale ideas. He wants to bet that we can get back to bubble economics without having a bubble. Common sense says that just isn't going to happen. Japans trouble was never that they didn't stimulate enough, it was that they grew a bobble too big to maintain. Property at a million dollars a square meter? Does Krugman really think it would be in Japans interest to get back to those days? Where does it go? 2 million a square meter?

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