Why Krugman and the Keynesians are wrong: The problem isn’t as simple as low aggregate demand. The core problem is that the economy needs a microeconomic reset, where supply (production) and demand (consumer) are brought back together through an undistorted and smoothly functioning price system. That means the government has to back off, not become more active. Well, the stimulative crack hasn’t worked in Japan. But hey, two centuries of failure proved nothing to these fools, why should two decades make a difference?
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The troll krugman is not a very bright man. He says we should borrow money now when it's at almost zero interest. The thing he does not think about (or does and chooses to ignore it) is that any new debt will be rolled over and rolled over at much higher interest rates.
The man is an economic illiterate and only demonstrates that a Nobel award (not a prize which he did not receive) is not worth much in the real world.