WHEN IS KRUGMAN GOING TO ADMIT THAT A STRUCTURAL "BLOW OUT" IS NOT THE SAME AS A CYCLICAL DIP IN DEMAND...DUE TO OLD FASHION "OVER PRODUCTION" ...? (IN THE LOCAL ECONOMY)
PLEASE SOMEBODY...CLUE OUR RECENT NOBEL PRIZE WINNER IN ON THIS...
OF COURSE YOU COULD ARGUE THAT "THINGS WOULD BE WORSE" WITHOUT THE STIMULUS... AND THAT IS TRUE...
BUT WHEN IS KRUGMAN GOING TO TELL US ABOUT THE STRUCTURAL PROBLEMS ... LIKE DE-INDUSTRIALIZATION....WHICH DOOM ANY AND ALL STIMULUS TO BE A TEMPORARY FIX.
