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| User Info | The Stark Choice Before The World; entered at 2011-04-03 11:46:54 | |||
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Rickcaird Posts: 78 Registered: 2009-08-17 Boynton Beach, Fl 
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Krugman also had a blog post along these lines on Friday: http://krugman.blogs.nytimes.com/2011/04.... In reading it, Okrent's admonition of Krugman "slicing and dicing" comes to mind. Krugman is a deeply dishonest man. Although widely separated in his 4/1 post, he tells us that there is a difference between a credit crisis and an inflation fighting recession. But, at the end of his post, he tells us "...and in which the zero lower bound is all too binding." Here he is talking about the zero interest rate policy. But, that was the policy he and others advocated. So, now that the policy he advocated is not working and the interest rates are at zero, his response is that this policy is, in fact, a limit on doing anything more. It is also noteworthy after trashing "Mellon-style liquidationism", he offers no alternative. I guess he believes we should keep all this bad debt and somehow get the taxpayers to pay for it all. It is easy to distrust Krugman. 2011-04-03 11:46:54
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