Krugman Blames Any Bank But the Fed

by May 27, 2012Liberty & Economy0 comments

How could he blame the Fed when the policy it implemented was the same policy of inflation and artificially low interest rates that Paul Krugman had advocated following the collapse of the dot-com bubble, which policy created the housing bubble that precipitated the financial crisis and “slump” he here speaks of?

Paul Krugman writes in his latest column:

Think about where we are right now, in the fifth year of a slump brought on by irresponsible bankers. The bankers themselves have been bailed out, but the rest of the nation continues to suffer terribly….

Of course, by “irresponsible bankers”, he does not mean the Federal Reserve. Of course not! How could he blame the Fed when the policy it implemented was the same policy of inflation and artificially low interest rates that Paul Krugman had advocated following the collapse of the dot-com bubble, which policy created the housing bubble that precipitated the financial crisis and “slump” he here speaks of?

As for those bailouts of those irresponsible banks, why, Krugman supported them!

I’ve written about how Krugman tries to sound like a critic of the banks while in fact serving to protect their interests.

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About Jeremy R. Hammond

About Jeremy R. Hammond

I am an independent journalist, political analyst, publisher and editor of Foreign Policy Journal, book author, and writing coach.

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