Hey Paul Krugman (Song A Day #77)

About the famous economist, Nobel prize winner and all around cool guy. Featuring my friend Madelyn, who is in an awesome band called The Muffin Brigade (http://www.myspace.com/muffinbrigade)

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  Music

[robotron17]

The "Murphy-Krugman Debate" (google it) has already raised over $50k in donations!!!

All money will be donated to the NYC food bank. So support a good cause and pledge some money. You will not be billed unless/until the debate happens.

Whichever side you agree with, you should support this debate. It will be very entertaining and enlightening to say the least.

[Madfoot713]

Hey Peter Schiff

[johnny1992black]

GAAAAAAAAY

[violinsane108]

So, so gay.



[jjenson2006]

I read the entire article that Krugman wrote and I know what I read. Krugman advocated lower short term interest rates. He advocated them BEFORE the housing bubble and he still advocates them now. It was the lower interest rates that made it possible to have a housing bubble. How can you or anyone including Krugman himself refute this indisputable fact?

watch?v=nM6_yIVcP6Q

"to be honest, another bubble would be rather helpful..." - Krugman

watch?v=-uFNHQ19h64

[Seasass]

Krugman was saying that in the absence of genuine business investment (which he advocated and felt was missing from the economy), the only way Greenspan could maintain the superficial appearance of a healthy economy (which Krugman did not advocate, but which he thought Greenspan would try to do in order to save his reputation as "The Maestro") was to inflate another bubble. Anyone familiar with the entire body of Krugman's work will recognize the absurdity of what you're implying.

[jjenson2006]

I got your context right over here:

"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." - Paul Krugman

[Seasass]

Attempts to comprehend anyone's words are usually more successful when done in context.

[Seasass]

From the same blog post: "... to avoid awkward questions about his own role in creating the stock market bubble." The referenced 2002 NYT piece was a warning that the supposed "recovery" from the dot.com bubble was illusory--that investment in the real economy was not occurring and that there might be a double dip recession (hence the title: "Dubya's Double Dip"). PK was describing the desperate measures AG would have to take to camoflauge the effects of his previous bad policy.

[Seasass]

Let's provide a little context, shall we?: "Mr. Greenspan needs one to avoid awkward questions about his own role in creating the stock market bubble.to avoid awkward questions about his own role in creating the stock market bubble."

[TeyunaSe]

Awesome song! Funny and right on target. Thanks for swearing in all the right places. That's an art. (Really).