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Politics : View from the Center and Left

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To: Steve Lokness who wrote (178361)	12/31/2011 12:43:51 PM
From: bentway	Read Replies (2) of 543053

"We are in the mess we are because we followed Krugmans advice - we artificially stimulated the economy that then led to the housing boom." That wasn't Krugman's or Keynes advice! Krugman pointed out the housing bubble long ago. According to both, we should have been paying down deficits and debts when we were blowing the housing bubble, which should have been contained through tighter regulations, actual enforcement and higher interest rates. Those were the Bush years, and no Keynesians were at the wheel - Allan Greenspan and George W. Bush were. NOT Keynesians. The problem is whenever the (R)'s get the wheel, Keynesian economics goes back into the round file and we're back to borrow and spend Reaganomics. Clinton is the ONLY modern American president to actually attempt to right our economic ship through Keynes. But NOW is NOT the time. Perhaps our economic policy should be removed from the political sphere as the courts were? Made into a stand-alone independent entity, like the Supremes? That way presidents and congress would be handed an allowance (or not) and told "That's all you get, so don't spend it all on candy!"

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