History Lesson: Paul Krugman

What an idiot... And to think - the man has a nobel prize & a weekly NY Times column to this day that haven't been stripped away.

“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, August 2002