All this goes to show is how completely the people in charge of things in the United States have lost their minds. They seem to think this mass exercise in pretend will resurrect the great march to the Wal-Marts, to the new car showrooms, and the cul-de-sac model houses…
August 28th, 2009 | James Howard Kunstler | 2 comments | ContinuedAll Posts Tagged With: "Paul Krugman"
Paul Krugman Advised the Bank of Japan to Purposely Cause Inflation
So I told him, “I like it fine, except I wanted lobster! Rich, flakey lobster to dip into real melted butter so wickedly delicious that you can actually hear your arteries hardening from just looking at it; but I can’t order lobster because inflation in prices…
August 18th, 2009 | Mogambo Guru | 4 comments | Continued
Household Debt Represents Spending Taken From the Future
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 | Continued
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