But you can’t take an infinite amount from future earnings. You reach a point when the future can’t handle it. As more and more future earnings are absorbed by past consumption, pretty soon there’s not enough left to live on. At some point, so much of earnings are devoted to paying the interest…
August 11th, 2009 | Bill Bonner | 3 comments | ContinuedAll Posts Tagged With: "Paul Krugman"
Modern Economic Theory
The Economist magazine, also predictably and inevitably, does not comment on this Gem Of Mogambo Economic Wisdom (GOMEW), which is to buy gold, silver and oil on the advice of the last 4,500 continuous years of the world’s economic history…
July 28th, 2009 | Mogambo Guru | 3 comments | Continued
Krugman Warns That the Run-up in Stocks Can’t Be Justified By the Fundamentals
“The market seems to be looking as if this is going to be an average recession, but it’s not,” said Paul Krugman, Princeton University’s Nobel Prize-winning economist.
May 15th, 2009 | Bill Bonner | 0 comments | Continued
