Aug 21, 2009
WHY THERE IS NO HOPE
This quote is by none other than recent Nobel Prize winner and economic uber-genius Paul Krugman, giving his views of “how to fix an economy” circa 2002.
"To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble."
(Paul Krugman, NY Times, August 2, 2002)
Paul Bremer (our first viceroy in Baghdad) gets a “Medal of Freedom” for his disaster, FEMA gets a huge budget raise after letting New Orleans drown, and now this arrogant, poorly educated fool is given a Nobel Prize after cheerleading the very policy that led us to our current disaster?
A fish rots from the head, and America’s appears all rotted out.
"To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble."
(Paul Krugman, NY Times, August 2, 2002)
Paul Bremer (our first viceroy in Baghdad) gets a “Medal of Freedom” for his disaster, FEMA gets a huge budget raise after letting New Orleans drown, and now this arrogant, poorly educated fool is given a Nobel Prize after cheerleading the very policy that led us to our current disaster?
A fish rots from the head, and America’s appears all rotted out.