{"id":194184,"date":"2008-10-17T17:27:00","date_gmt":"2008-10-17T22:27:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/17\/krugman-nails-it-2\/"},"modified":"2008-10-17T17:27:00","modified_gmt":"2008-10-17T22:27:00","slug":"krugman-nails-it-2","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2008\/10\/17\/krugman-nails-it-2\/","title":{"rendered":"Krugman Nails It"},"content":{"rendered":"<p>He hasn&#8217;t let the Nobel go to his head.<\/p>\n<p>Read <a href=\"http:\/\/www.nytimes.com\/2008\/10\/17\/opinion\/17krugman.html?_r=1&amp;oref=slogin\">his Op-Ed<\/a>.<\/p>\n<p>He is saying that there is not much that the Fed can do by lowering interest rates, they are already at 1%, after all.<\/p>\n<p>He is saying that they have shot their <span style=\"font-weight:bold;\">monetary<\/span> wad, the classic phrase is &#8220;pushing on a string&#8221;, and that Congress needs to go with <span style=\"font-weight: bold;\">fiscal<\/span> stimulus, meaning that Congress needs spend money on things like infrastructure, etc.<\/p>\n<p>Think New Deal and the WPA.<\/p>\n<p>Go read the shrill one.<\/p>\n<p><span style=\"font-weight:bold;\">Ph&#8217;nglui mglw&#8217;nafh Krugman R&#8217;lyeh wagn&#8217;nagl fhtagn!<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>He hasn&#8217;t let the Nobel go to his head. Read his Op-Ed. He is saying that there is not much that the Fed can do by lowering interest rates, they are already at 1%, after all. He is saying that they have shot their monetary wad, the classic phrase is &#8220;pushing on a string&#8221;, and &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[973,1002],"tags":[],"class_list":["post-194184","post","type-post","status-publish","format-standard","hentry","category-economy","category-good-writing"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194184"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=194184"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/194184\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=194184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=194184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=194184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}