|
Krugman on the U.S. Economy |
|
|
|
|
Written by Stumo
|
|
Friday, 23 November 2007 |
|
Krugman comments
on the housing credit problems today. He pulled a quote from a
piece he wrote in 2005, which sums up the U.S. economy pretty well.
“These days,” I wrote in August 2005, “Americans make a living
selling each other houses, paid for with money borrowed from the
Chinese. Somehow, that doesn’t seem like a sustainable lifestyle.” It
wasn’t.
Trackback(0)
 |
|
In the news
|
The following article was written by Peter Morici, a professor at the University of Maryland School of Business and former Chief Economist at the U.S. International Trade Commission.
The Treasury is injecting another $27 billion into AIG and raising the
taxpayers’ investment to $150 billon. Secretary Paulson appears more
intent on helping his pals on Wall Street than protecting taxpayer
interests.
|
|
Read more...
|
|
TrackBack URI for this entry
Subscribe to this comment's feed