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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: JohnM who wrote (140667)	7/13/2010 7:16:30 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 543056

John; Excellent KRUGMAN piece this morning. No it wasn't. Krugman again has blame this time for the fed. But as krugman acknowledges the fed is limited in what it can do since interest rates are near zero! Still he thinks the fed has magic in its bag of tricks that it isn't using. But again Krugman doesn't understand that you can't force people to borrow money. Krugman blames the fed in this piece and before that it was deregulation and before that it was not enough stimulus - blaming everyone except the policies that brought us here. Krugman lives in a fairyland world where he ignores the downsides of an action and the pragmatism of what is possible. Steve