Thursday, June 18, 2009

Why Krugman (and Keynes) are completely wrong.

Krugman, in 2002: (hat tip, Liberty Papers)

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.