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The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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Paul Robin Krugman
Paul R Krugman
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The public has no idea that the deficit has been falling like a stone.
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I think Stockman is an interesting sort of amalgam.
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There are no atheists in foxholes and there are no libertarians in financial crises.
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I'm especially baffled by the idea of taking insurance against a U.S. default. If America defaults, we're talking about a chaotic world - Mad Max, more or less - in which case, who imagines that insurance claims will be honored?
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We're living in a Dark Age of macroeconomics. Remember, what defined the Dark Ages wasn’t the fact that they were primitive — the Bronze Age was primitive, too. What made the Dark Ages dark was the fact that so much knowledge had been lost, that so much known to the Greeks and Romans had been forgotten by the barbarian kingdoms that followed.
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The planet will continue to cook.
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Consumer spending is now plunging at serious-recession rate ... even if the rescue now in train succeeds in unfreezing credit markets, the real economy has immense downward momentum. In addition to financial rescues, we need major stimulus programs.
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It's a funny thing, by the way, how people who love free markets are also quite sure that they know that investors are being irrational.
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The science fiction world has a lot of people doing seriously imaginative thinking.
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If you want to understand opposition to climate action, follow the money.
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The trouble with poverty, as an issue, is that it has basically exhausted the patience of the general public.
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The federal government is basically an insurance company with an army.
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