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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.

Paul Krugman

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Paul Krugman
Age: 71
Born: 1953
Born: February 28
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The public has no idea that the deficit has been falling like a stone.
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Every once in a while I feel despair over the fate of the planet. If you’ve been following climate science, you know what I mean: the sense that we’re hurtling toward catastrophe but nobody wants to hear about it or do anything to avert it.
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Where's that toxic rhetoric coming from? Let's not make a false pretense of balance: it's coming, overwhelmingly, from the right. It's hard to imagine a Democratic member of Congress urging constituents to be armed and dangerous without being ostracized but Representative Michele Bachmann, who did just that, is a rising star in the G.O.P.
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Wealthy Americans who benefit hugely from a system rigged in their favor react with hysteria to anyone who points out just how rigged the system is.
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Not all private equity people are evil. Only some.
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I think Stockman is an interesting sort of amalgam.
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Friedrich Hayek is not an important figure in the history of macroeconomics.
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Something terrible has happened to the soul of the Republican Party. We've gone from bad economic doctrine. We've even gone beyond selfishness and special interests. At this point we're talking about a state of mind that takes positive glee in inflicting further suffering upon the already miserable.
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Economists don't usually make good speculators, because they think too much.
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The goal in the end is not to win elections. The goal is to change society.
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I believe that the only important structural obstacles to world prosperity are the obsolete doctrines that clutter the minds of men.
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When stock prices are rising, it's called ''momentum investing'' when they are falling, it's called ''panic.''
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as an economics professor I am by nature inclined to the view that the truth isn't out there, it's in here - that usually you learn a lot more by thinking really hard about the data than you do by sniffing around for supposedly inside information.
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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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And when the chickens that didn't hatch come home to roost, we will rue the day when, misled by sloppy accounting and rosy scenarios, we gave away the national nest egg.
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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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There's one thing that the Fed has been really good at cracking down on, and that's inflation.
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There's nothing magic about spending on tanks and bombs rather than roads and bridges.
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Are you, or is someone you know, a gadget freak? If so, you doubtless know that Wednesday was iPhone 5 day, the day Apple unveiled its latest way for people to avoid actually speaking to or even looking at whoever they're with.
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