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The problem I have is that he advocated the boom that nearly destroyed the #1 economy in the world in order to avoid a potential slump.
by skylan_q 14y ago
The problem I have is that he advocated the boom that nearly destroyed the #1 economy in the world in order to avoid a potential slump.
- rayiner 14y agoI read that as not so much advocating it, but rather a sarcastic way of saying "what Greenspan is doing will create a housing bubble."
- jellicle 14y agoAnyone of even modest reading comprehension would understand that Krugman is quoting Mr. McCulley, who talked about creating a housing bubble to replace the NASDAQ bubble. (By the way, McCulley wasn't advocating it either, just talking about Greenspan doing it.) But Krugman-hate has strongly negative effects on reading comprehension.
- coldtea 14y agoHe didn't advocate any boom. He writes what Greenspan thinks is needed. If anything, he is ANTI-bubble.