Why you should never, ever listen to Nobel Prize-winning New York Times Paul Krugman again. Ever. This August 2, 2002 quote is all you need to know about the sagacity of Nobel Prize-winning economist Paul Krugman: “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.”
This post was last modified on August 28, 2011
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When Krugman speaks, Obama listens.
Krugman is like so many on the left who is highly thought of, but really ain't that smart. Guys like him, Van Jones, Al Gore, Obama, & others are given all sorts of awards from organizations that are run by leftists. The Nobel prizes have become very political, & various others that are very prestigious are as well. If you are "the it person", you will be rewarded & awarded. It's a very small circle of powerful like minded people/groups that are propped up by generous foundations/trusts that are run by wealthy elite leftist progressive types. Considering guys like Gore & Obama have won Nobel Peace Prizes & have done nothing to promote peace at all should tell you all you need to know. They were political statements, thinly disguised as an award that the world media pissed themselves about.
Too bad a lot of people listened to that suggestion.
I think I'll ask my 2 year old grand niece for financial advice before Krugman.