Tuesday, February 19, 2013
Krugman: expansionary monetary policy, with currency depreciation as a byproduct
Feb. 15 (Bloomberg) -- Paul Krugman, Princeton University Professor of Economics, compares the United States economy to Japan in the 1990's. He speaks on Bloomberg Television's "Bloomberg Surveillance."
"what Japan, the US, and the UK are doing is in fact trying to pursue expansionary monetary policy, with currency depreciation as a byproduct"--Paul Krugman, NYTimes.com
"At this point, then, we have private demand still severely depressed by the aftermath of the housing-and-debt bubble, while government spending is barely higher than it was at the height of that bubble. Of course the economy is still weak"--Paul Krugman, NYTimes.com
"for those who still think that even more austerity is somehow the road to recovery, the question has to be, what category of spending, exactly, do you expect to rise? Business investment in the face of slack demand? Consumer spending when debt levels are still high and wealth has been savaged by the housing bust? What?"--Paul Krugman, NYTimes.com
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