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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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Economist
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Albany
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What our economy needs is direct job creation by the government and mortgage-debt relief for stressed consumers. What it very much does not need is a transfer of billions of dollars to corporations that have no intention of hiring anyone except more lobbyists.
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The party of ideas has become the party of Beavis and Butthead.
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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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The economic expansion that began in 2001, while it has been great for corporate profits, has yet to produce any significant gains for ordinary working Americans. And now it looks as if it never will.
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The federal government is basically an insurance company with an army.
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The economics profession went astray because economists, as a group, mistook beauty, clad in impressive-looking mathematics, for truth.
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Politics determines who has the power, not who has the truth.
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By rescuing the financial system without reforming it, Washington has done nothing to protect us from a new crisis, and, in fact, has made another crisis more likely.
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I really think that people have to think safety taking risks for higher yield is a bad idea once you're in late or latish middle age.
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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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Anyone who thinks that the last 80 years, ever since FDR took us off gold, have been a doomed venture, that strikes me as kind of cranky.
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America's political landscape is infested with many zombie ideas - beliefs about policy that have been repeatedly refuted with evidence and analysis but refuse to die. The most prominent zombie is the insistence that low taxes on rich people are the key to prosperity.
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If Europe’s example is any guide, here are the two secrets of coping with expensive oil: own fuel-efficient cars, and don’t drive them too much.
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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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Asset bubbles have happened even without not-so-easy money. And, in a depressed economy, where alternative uses of money are not great, people are going to bid up the prices of profitable corporations and stuff like that.
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...instead it seems that business - like weight loss - is a subject wherein hope and fear inspire limitless gullibility.
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Default is not in our stars, but in ourselves.
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However, the fact that an economist offers a theoretical analysis does not and should not automatically command respect. What is needed is some assurance that the analysis is actually relevant.
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