Monday, November 1, 2010

Quote of the Day: 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, Allen Greenspan needs to create a housing bubble to replace the Nasdaq bubble.

~ Paul Krugman, 2002

4 comments:

  1. "..soaring household spending.." Can't believe this guy won a Nobel prize. What a tool.

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  2. Looks like he got what he wanted... (housing bubble)

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  3. The unemployment rate in 2002 was 6%. What would they give to get 6% today?

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  4. Sometimes it just seems like the more the "experts" try to manipulate the economy the bigger mess they create.

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