Ok so I have spent a few years studying keynesian economics and just under a year studying the economics advocated by sites such as this one, and I feel that in this year I have learned much more than all the years studying keynesian economics.
This leads me to ask the questions, is Paul Krugman a retard? I was reading his wikipedia page for some forgotten reason and I read the following excerpt:
Krugman wrote that, "To fight this recession (2002) 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." He further noted that, "If we do have a housing bubble, and it bursts, we'll be looking a lot too Japanese for comfort" (referring to the Japanese 'lost decade' of slow growth in the 1990s). Krugman later stated that his statement about "a housing bubble to replace the Nasdaq bubble" was economic analysis and not policy advocacy.
In 2005, after Greenspan expressed concern over housing markets, Krugman criticized Greenspan's earlier reluctance to regulate the mortgage and related financial markets, arguing that "[he's] like a man who suggests leaving the barn door ajar, and then – after the horse is gone – delivers a lecture on the importance of keeping your animals properly locked up."
Ok so with my newly gained knowledge, it seems to me that he said Greenspan needs to artificially create a housing bubble. After watching over 9000 Peter Schiff videos, it seems to me that there WAS a housing bubble that was artificially created (I don't know if it was Greenspan, I would have said Freddie and Fannie caused it) and that its collapse is one of the major malfunctions of the degenerating economy we live in today.
Also, in the second paragraph it seems to me that he is advocating Federal Reserve intervention in the housing and financial markets. Isn't that one of the problems with the financial collapse as well?
Can someone please explain this to me and if you feel like it explain the real nature of the current financial collapse? Or at least point me to a place where I can learn? Thanks
Sorry, I HONESTLY spent like 45 seconds of my life looking for a more appropriate word, but could not find one that fit what I was trying to say.
If anarcho-capitalism ever succeeds am I going to have my right to use the word "retard" taken away?
Krugman called for the housing bubble, as Lilburne and others have demonstrated. Why does his Wikipedia page allow him to get away with it?
This line needs rebuttal on the Wiki: "Krugman later stated that his statement about "a housing bubble to
replace the Nasdaq bubble" was economic analysis and not policy
Obama has a whopping 62% favorable pecentage on Daily Kos. Like people have nothing better to do at that site then spam how great Obama is.
'Men do not change, they unmask themselves' - Germaine de Stael
OntologicalQuandary:Sorry, I HONESTLY spent like 45 seconds of my life looking for a more appropriate word, but could not find one that fit what I was trying to say.
Don't do it again.
OntologicalQuandary:If anarcho-capitalism ever succeeds am I going to have my right to use the word "retard" taken away?
Your "right" to free speech, is only related to your right to own property.