Sunday, August 23, 2009

Devastatingly accurate - Krugman's warning six months ago




Barack Obama is on Martha's Vineyard, relaxing and looking back. And forward we trust. September is here. The unemployment rate is 9.4%. The web is an amazing tool - making it so easy to retrieve information and determine if our predictions have panned out.

So go back to March 2009 for Paul Krugman's warning about the inadequacy of the stimulus - so contrary to the "common sense" that it was too much, rather than too little:

Published: March 9, 2009
The Obama administration’s economic policy is already falling behind the curve, and there’s a real, growing danger that it will never catch up......
Click on the headline to get the story.
p.s. - Tim Geithner should pull out some of his old memos to see how his predictions stood up.

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