Relevant:

    2008-12-29blogspot.com

    Keynesian economists, for which Krugman is the high priest, believe that it is possible to spend one's way out of a recession even though it was excessive spending that caused the boom and the subsequent bust.

    We tried it Krugman's way once already, and the result was a housing (credit) bubble of epic proportion. Not having learned a damn thing, the typical Keynesian response is to attempt to create an even bigger bubble.



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