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Politics : Formerly About Advanced Micro Devices
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TideGlider
To: SilentZ who wrote (881665)8/22/2015 12:54:21 PM
From: RetiredNow1 Recommendation  Read Replies (2) of 1574685
 
What you forget about Krugman is that he was one of the most vocal proponents of CREATING a housing bubble to, in his words, help the economy recover from the Internet Bubble burst of 2001-2002. Krugman loves this idea of serial bubble blowing. So Krugman got his housing bubble and then he claimed to have foreseen the burst of the housing bubble. Amazing. You and the Keynesians may believe that the way to run a responsible economy is to blow serial bubbles and then go further and further into debt to bail out the economy when those bubbles burst, but that is like a kid playing with matches around gasoline. It will blow up in your face every single time. Oh and btw, the only reason why things don't seem to be as bad as in 1929 is that we have a much larger safety net. So we learned something from that time. Unfortunately, we never addressed the root causes of the 2008 crash, instead choosing to print money and hold interest rates at zero for 6 years. Until we learn that we must enforce the laws on the books and put people in jail for crimes that impacted millions, we will have serial recidivism in financial fraud by the Wall Street execs who created the messes in the first place. The Fed is an aider and abettor of these crimes as well. Their dual mandate is one of the major causes of the endless bubble bursting cycles we go through. Currency stability is what we need.
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