Posted on 09/06/2013 7:50:28 AM PDT by tatown
In a few days, we’ll reach the fifth anniversary of the fall of Lehman Brothers — the moment when a recession, which was bad enough, turned into something much scarier. Suddenly, we were looking at the real possibility of economic catastrophe.
And the catastrophe came.
Wait, you say, what catastrophe? Weren’t people warning about a second Great Depression? And that didn’t happen, did it? Yes, they were, and no, it didn’t — although the Greeks, the Spaniards, and others might not agree about that second point. The important thing, however, is to realize that there are degrees of disaster, that you can have an immense failure of economic policy that falls short of producing total collapse. And the failure of policy these past five years has, in fact, been immense.
(Excerpt) Read more at nytimes.com ...
I wonder how hard it was for him to pen that?
He just wants more money for the bankers and wallstreet.
Krugman is a tragic waste.
He must have cleaned off his rose colored glasses and cna see for the first time in 5 years...................
Readers’ Digest version: Krugman thinks we didn’t print and spend enough money.
A real tragic waste is people who read Krugman columns and think they should believe it.
Krugman’s maid came to work wearing home made cardboard slippers. “You poor dear, says Paul, “you need some new slippers!”. So Paul gave her several pieces of fresh new cardboard.
Recognizing a failure doesn’t equate to having the right solution.
Wow. It would have worked if we spent 3 times as much?
Forget the crippling debt. Forget QE1, QE2, QE3 propping up the markets. Forget trillions spent on “stimulous”.
It would have worked if we did more.
He’s defending his own policy failures by saying this. His ideas are sound and the execution is flawed.
Just damn.
Broken clock meet blind squirrel.
5.56mm
The key point is not Krugman’s belief on what should be done it’s more about how he is blatantly calling Obama’s economic policy a failure. They are starting to eat their own.
Krugman sounds like those idiots who claim that Communism has never actually failed because it has never been implemented properly, and so if they can just be allowed to impose it on us, everything will be wonderful.
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