There’s plenty of blame to go around these days. But the prime villains behind the mess we’re in were Reagan and his circle of advisers — men who forgot the lessons of America’s last great financial crisis, and condemned the rest of us to repeat it.Krugman is insane. The true reason we find our economy so fragile is the sub-prime mortgage mess created and propogated by the Clinton legislation supported by Democrats...who ultimately refused to recognize the toxic debt they were generating despite efforts by some Republicans and the Bush Administration to limit the practice.
On a side note, I bumped into Paul Krugman one late afternoon while walking to the Port Authority. He was standing by himself outside the NY Times building (no longer the possession of the New York Times due to financial idiocy by Pinch Sulzberger). I walked up to him without pause and asked him very matter of factly:
"Where is he?"
He looked at me confused and responded expectly.
I grinned my little grin...
"Why...the guy who carries your medication around for you?"
I went on my way having done my good deed for the day, and didn't even bother to take in his response.