On Nov 8, 2010, at 10:05 PM, Michael Pollak wrote:
> Now, after this point, Krugman tries to say it wasn't just fear of political and bond market opposition -- that it was unwarranted optimism too. But I don't see any sign of that in that passage. It looks to me like fear of opposition accounts for all of it.
Yup. So much for change...
Funny that Krugman said: "I have no insight into Christy Romer's departure from the administration." She's the one who told the CFR - entirely on her own initiative, apparently - that financiers needed to make things. Summers was the closest to an old-style Keynesian (things have come to that!) in the inner circle. They're both gone. What does that tell us?
Doug