Krugman: "The Unwisdom of Elites"

[Mac1337]

Accurate? Where are the articles he wrote predicting the crash? I have yet to see a rich economist. Guess why? These guys are always after the fact geniuses.

[Acer]

http://krugblog.wordpress.com/favorite-columns/

No Bubble Trouble
Paul Krugman, January 2, 2006

Part of the rise in housing values since 2000 was justified given the fall in interest rates, but at this point the overall market value of housing has lost touch with economic reality. And there’s a nasty correction ahead.

[Mac1337]

You can find warnings about corrections all the time. Gold, oil, coffee, bacon are all due for a correction. So there, put me in that column. He did not predict the magnitude and how it would happen. I like to know if he sold his house and moved to a rental. That is called predicting a correction.

[Seacrest]

http://www.bankrate.com/brm/news/mortgag...Family.asp

[(vikm)]

SteveO wrote:
Krugman is right, but the flip side (and I hate this) is we get the government we deserve.

I fail to see how I deserve it just because anywhere from 45-55% of the voting public are fscking idiots at any given time in this country. I understand the sentiment behind this age old statement but it's just not true for some. A lifetime of education can't "un-stupid" some people.