Está circulando por la red un impagable artículo de Paul Krugman de 2002 en el que recomienda a Greenspan que cree una burbuja inmobiliaria para salir de la burbuja de las puntocom. La ironía, como dice Mish, es que las políticas que ahora defiende Krugman para salir de la crisis son las mismas que nos metieron en este atolladero.
To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble.
En el blog del Mises citan más recomendaciones en la misma línea:
In time this overhang will be worked off. Meanwhile, economic policy should encourage other spending to offset the temporary slump in business investment. Low interest rates, which promote spending on housing and other durable goods, are the main answer. But it seems inevitable that there will also be a fiscal stimulus package (7 de Octubre, 2001)
The good news about the U.S. economy is that it fell into recession, but it didn't fall off a cliff. Most of the credit probably goes to the dogged optimism of American consumers, but the Fed's dramatic interest rate cuts helped keep housing strong even as business investment plunged (28 de Diciembre 2001)
Lo más gracioso es que Krugman habla en el primer artículo de un déjà vu...
