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Krugman: Stay the Course
Calculated Risk —
From Paul Krugman in the NY Times: Stay the Course The debate over economic policy has taken a predictable yet ominous turn: the crisis seems to be easing, and a chorus of critics is already demanding that the Federal Reserve and the Obama administration abandon their rescue efforts. For those who know their history, it’s déjà vu all over again — literally. For this is the third time in history that a major economy has found itself in a liquidity trap ... The first example of policy in a liquidity trap comes from the 1930s. The U.S. economy grew ...
Paul Krugman: Stay the Course
Economist's View —
... Stay the Course, by Paul Krugman, Commentary, NY Times: The debate over economic policy has taken a predictable yet ominous turn: the crisis seems to be easing, and a chorus of critics is already demanding that the Federal Reserve and the Obama administration abandon their rescue efforts. ...
Monday morning links
The Mess That Greenspan Made —
... Commodities Rock on Higher Rates, Utilities Stall - Bloomberg • The Outlook is Not Up, But Very Widely Sideways - Hussman Funds ECONOMY • New York Region Manufacturing Shrinks at Faster Pace - Bloomberg • States consider college aid cuts; student programs at risk - USA Today • Delta, AMR See Revenue Vanish as NY Business Fares Tumble - Bloomberg • Gasoline price surge comes at bad time - LA Times • Stay the Course - Krugman, NY Times INTERNATIONAL • German credit crunch ...
The Great Depression II meme
naked capitalism —
... This line of argument, entirely predictable, does seem to be exactly what is taking place right now. Witness Paul Krugman’s remarks in his most recent post Stay the Course. ...
If you laid all the economists end to end...
Management R&D —
... now, China has been willing to hold her recycled resources in the form of lowest-yield U.S. Treasury bills. That's still good news. But almost certainly it cannot and will not last. Some day -- maybe even soon -- China will turn pessimistic on the U.S. dollar. That means lethal troubles for the future U.S. economy. When a disorderly run against the dollar occurs, I believe a truly global financial panic is to be feared. But Nobel Laureate Paul Krugman thinks it is too early to start saving: To sum up: A ...
THE CASE FOR GRADUALISM IN MONETARY POLICY
The Capital Spectator —
... New York Times columnist Paul Krugman writes today that it's too early to begin removing the monetary stimulus engineered by the Federal Reserve. ...
Paul Krugman sounds whiny
The Mess That Greenspan Made —
In his latest commentary, Paul Krugman starts to sound a little whiny about the possibility of policymakers spraying Roundup on all the "green shoots" that have popped up lately. ...
Krugman and McCulley, Déjà Vu All Over Again
Mish's Global Economic Trend Analysis —
Paul Krugman says Stay the Course. The debate over economic policy has taken a predictable yet ominous turn: the crisis seems to be easing, and a chorus of critics is already demanding that the Federal Reserve and the Obama administration abandon their rescue efforts. For those who know their history, it’s déjà vu all over again - literally. In previous liquidity-trap episodes, policy makers gave in to these pressures far too soon, plunging the economy back into crisis. And if the critics have their way, we’ll do the same thing ...
Let He Who Is Without National Debt Sin Cast The First Stone
Capital Gains and Games —
... Update: Here's Paul Krugman's most recent take on the same subject from today's New York Times. Among many possibilities, here's the money quote: ...
Gold Hits 5-Week Low Ahead of Fed's "Dollar Devaluation" Vote; Russia Builds 10th Biggest Central-Bank Holdings
GoldSeek.com —
... OF physical gold sank to new 5-week lows at $924 an ounce early in London on Monday, recording the lowest Gold Fix since 18th May as the US Dollar held steady on the foreign exchanges and world stock markets fell. Crude oil dropped back to $68.50 per barrel, and government bond prices were bid higher across the board, pushing the yield offered by 10-year US Treasury debt down to 3.72%. Last week Nobel-winner Paul Krugman and US presidential advisor Christina Romer argued in the New York Times and ...
Depression Era Unemployment Rate
Calculated Risk —
... enormous federal budget deficits, concluded that it was time to put the nation’s fiscal house in order and started raising taxes and reducing spending. ... Thus, both monetary and fiscal policies did an abrupt about-face in 1936 and 1937, and the consequences were as predictable as they were tragic. The United States economy, which had been rapidly climbing out of the cellar from 1933 to 1936, was kicked rudely down the stairs again ... And from Paul Krugman in the NY Times in June: The first example of policy in a liquidity trap comes from the ...
