KRUGMAN HAS MADE THE LEAP OF FAITH THAT THE KEYNESIAN SOLUTION WILL WORK...
YET HE DOES RECOGNIZE THAT THIS RECESSION IS LIKE NO OTHER...
BUT MY QUESTION IS DID KEYNES EVER CONSIDER THE "BUBBLE ECONOMIES" OF THE 1990...?
REMEMBER MUCH OF WHAT KEYNES DID WAS IN THE SHADOW OF THE GOLD STANDARD...AND BEFORE THE GREAT ERA OF SPECULATION AND 401K PLUNGING...
KRUGMAN NEEDS TO ADDRESS THE STRUCTURAL PROBLEMS IN THE US ECONOMY...LIKE THE LACK OF AN INDUSTRIAL BASE...AND THE TOXIC ROLE THAT CHINA HAS PLAYED WITH THE HELP OF INTERNATIONAL CAPITAL...
KRUGMAN WANTS OBAMA TO TALK TO AMERICANS LIKE ADULTS...ABOUT THE KEYNESIAN SOLUTION.
BUT IF THAT WERE THE CASE...
ALL OBAMA COULD SAY IS : WE'RE SCREWED...!
