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But where will the Fed find another bubble?

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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Outrageous fiscal mendacity is neither historically normal nor bipartisan. It’s a modern Republican thing.
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Politics determines who has the power, not who has the truth.
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The great thing about fiscal policy is that it has a direct impact and doesn't require you to bind the hands of future policymakers.
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Many people ... prefer to describe themselves as progressives rather than liberals. To some extent that's a response to the decades-long propaganda campaign conducted by movement conservatives, which has been quite successful in making Americans disdain the word liberal but much less successful in reducing support for liberal policies.
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The problem with digital books is that you can always find what you are looking for but you need to go to a bookstore to find what you weren't looking for.
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The habit of disguising ideology as expertise has created a deficit of legitimacy.
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The raw fact is that every successful example of economic development this past century ... has taken place via globalization.
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There's one thing that the Fed has been really good at cracking down on, and that's inflation.
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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.
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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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Economics is not a morality play.
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Republican candidates had to appeal to their base, which is by and large elderly white people arguing with empty chairs.
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Seven habits that help produce the anything-but-efficient markets that rule the world. 1. Think short term. 2. Be greedy. 3. Believe in the greater fool 4. Run with the herd. 5. Overgeneralize 6. Be trendy 7. Play with other people's money
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