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Politics : View from the Center and Left

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To: Steve Lokness who wrote (189044)	5/12/2012 11:52:23 AM
From: Mary Cluney	Read Replies (2) of 541978

<<<Krugman doesn't understand the role housing plays - he just doesn't. He didn't understand it when it started to explode and he still seems very confused as to housing role in the economy. >>> Housing is ony one component of a very complicated economic system. Krugman is an economist and by almost any non kookoo standard he is pretty good at it. Housing does not stand alone in a neighborhood, city, region, or a country. It is part of an increasingly complex global juggernaught with massive amounts of incomlete real time inputs challenging the most sophisticated super computer algorithms. There are all kinds of people trying to game a system that is almost impossible to understand. Even the super brains at JP Morgran's risk management unit in London with their Monte Carol super computers simulations find understanding humbling. Anyone speaking with any certainty on this subject can not possibly have an inkling of understanding the the situation.

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