Here we have Grand Poobah of Keynesian economics and Nobel Laureate Paul Krugman in 2002 calling for a Housing Bubble to replace the NASDAQ bubble: http://www.

Here we have Grand Poobah of Keynesian economics and Nobel Laureate Paul Krugman in 2002 calling for a Housing Bubble to replace the NASDAQ bubble: http://www.nytimes.com/2002/08/02/opinion/dubya-s-double-dip.html?scp=4&sq=krugman%20mcculley%20bubble&st=cse http://www.nytimes.com/2002/08/02/opinion/dubya-s-double-dip... >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. The American economy loves a good asset bubble.