I'm not sure there's anything new in this article. It sort of sounds like a rehash of one side's arguments as contrasted with Paul Krugman's rehash of his side'

I'm not sure there's anything new in this article. It sort of sounds like a rehash of one side's arguments as contrasted with Paul Krugman's rehash of his side's arguments. It's a long-standing debate. But there are some entertaining quotations: Any astute reader knows that personal attacks and innuendo mean the author has run out of ideas. Following the last mystic oracle until he gets a judgment wrong, then casting him to the wolves, is not a good long-term strategy for identifying bubbles. Krugman wants to be the Rush Limbaugh of the Left. The case for free markets never was that markets are perfect. The case for free markets is that government control of markets, especially asset markets, has always been much worse.