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Mon Jan 7, 2013, 11:44 AM

 

Krugman Came up With the Idea of the Housing Bubble- I don't think he is looking out for US


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. Judging by Mr. Greenspan's remarkably cheerful recent testimony, he still thinks he can pull that off.

http://en.wikiquote.org/wiki/Paul_Krugman

He then supported (and pushed liberals to support) the bailout.

7 replies, 520 views

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Arrow 7 replies Author Time Post
Reply Krugman Came up With the Idea of the Housing Bubble- I don't think he is looking out for US (Original post)
No Compromise Jan 2013 OP
bluedigger Jan 2013 #1
Tempest Jan 2013 #4
Jackpine Radical Jan 2013 #2
spooky3 Jan 2013 #3
Tempest Jan 2013 #5
dsc Jan 2013 #6
cthulu2016 Jan 2013 #7

Response to No Compromise (Original post)

Mon Jan 7, 2013, 11:47 AM

1. Taibbi told Krugs to do it.

He's never had an original idea in his life.

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Response to bluedigger (Reply #1)

Mon Jan 7, 2013, 11:50 AM

4. LOL!

I had to read that twice to get it.

Well done.

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Response to No Compromise (Original post)

Mon Jan 7, 2013, 11:49 AM

2. Krugman is smart enough to know

that when you're standing up to your neck in a pool of shit is not the best time to create a tsunami.

There weren't a lot of alternatives to a bailout just then, given where Bush & Greenspan had put us. One can of course debate the precise form of the bailout, and Krugman did that, but things would have been much worse (think 1933) had Obama not continued with the plans initiated by the Bush Admin.

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Response to No Compromise (Original post)

Mon Jan 7, 2013, 11:49 AM

3. You are taking that quote out of context and mislabeling it.

Here is the full article from which his quote, describing what OTHERS said, appears:

http://www.nytimes.com/2002/08/02/opinion/dubya-s-double-dip.html

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Response to spooky3 (Reply #3)

Mon Jan 7, 2013, 11:52 AM

5. A newbie distorting what a liberal said? Who would have thought it?

That's why I usually stay away from threads started by people who have just signed up at DU.

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Response to No Compromise (Original post)

Mon Jan 7, 2013, 11:53 AM

6. could you have been more dishonest?

I mean really. Looking at post three you posted about the most dishonest post possible. You really should remove this thread.

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Response to No Compromise (Original post)

Mon Jan 7, 2013, 12:35 PM

7. The OP appears to have been written by Mitt Romney. It's that dishonest.

Krugman was describing Greenspan's thinking, not making a suggestion.

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