Thoughts, essays, and writings on Liberty. Written by the heirs of Patrick Henry.

“Political tags - such as royalist, communist, democrat, populist, fascist, liberal, conservative, and so forth - are never basic criteria. The human race divides politically into those who want people to be controlled and those who have no such desire. The former are idealists acting from highest motives for the greatest good of the greatest number. The latter are surely curmudgeons, suspicious and lacking in altruism. But they are more comfortable neighbors than the other sort.”     Robert A. Heinlein

June 17, 2009

Quote Of The Day

by Brad Warbiany

Krugman, in 2002:

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.

Krugman said then that we needed to reinflate the bubble to save ourselves. We did, and we didn’t.

Now he says it’s time for Keynesian stimulus far bigger than what we’ve already done. He’s just as wrong as he was then.

Hat Tip: TJIC

TrackBack URI: http://www.thelibertypapers.org/2009/06/17/quote-of-the-day-83/trackback/
Read more posts from
• • •

1 Comment

  1. But Mr. Krugman is very popular in Stockholm, and in Washington (where he reminds everyone there how essential they are). That means he cannot be wrong.

    Stop trying to confuse us with your “facts”, “logic” and “history”, Mr. Warbiany. We’re on to you.

    Comment by Akston — June 17, 2009 @ 11:03 am

Comments RSS

Subscribe without commenting

Sorry, the comment form is closed at this time.

Powered by: WordPress • Template by: Eric • Banner #1, #3, #4 by Stephen Macklin • Banner #2 by Mark RaynerXML