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Politics : View from the Center and Left

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To: Steve Lokness who wrote (178376)	1/1/2012 1:55:11 AM
From: bentway	Read Replies (2) of 543059

I'll let Krugman defend himself. He wasn't any housing bubble advocate. Arnold Kling sees it Krugman's way. June 17, 2009, 9:00 AM And I was on the grassy knoll, too One of the funny aspects of being a somewhat, um, forceful writer is that I’m regularly accused of all sorts of villainy. I was personally responsible for the demise of Enron; my nonexistent son worked for Hillary; etc.. The latest seems to be that I called for the creation of a housing bubble — in fact, the bubble is my fault! The claim seems to be based on this piece. Guys, read it again. It wasn’t a piece of policy advocacy, it was just economic analysis. What I said was that the only way the Fed could get traction would be if it could inflate a housing bubble. And that’s just what happened. Update: A gracious, sensible explication from Arnold Kling.

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