MURDER, POLITICS, AND THE END OF THE JAZZ AGE
by Michael Wolraich
Order today at Barnes & Noble / Amazon / Books-A-Million / Bookshop
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MURDER, POLITICS, AND THE END OF THE JAZZ AGE by Michael Wolraich Order today at Barnes & Noble / Amazon / Books-A-Million / Bookshop |
By Paul Krugman, Conscience of a Liberal Blog @ New York Times, March 4, 2011
My take on the US economic crisis has increasingly been that banks were less central than many people think, while the housing bubble and household debt are the key players — which is why financial stabilization by itself wasn’t enough to produce a V-shaped recovery.
But if I take all that seriously, I should be very worried about Canada:...
Comments
I don't get what Krugman is on about. What the charts show is Canada didn't have a housing bubble, and we didn't have a house-price cash. So is he concluding we might still have one? Where's the evidence?
And is household debt-to-income still rising? Yes, but it never reached the peak levels in the U.S., and it's still below current U.S. levels now. Does it bear watching? Yes. Is it "cause to be very worried?" I don't see it.
Let me assuage Krugman's concerns with this article from just over a year ago, by respected NYT columnist Paul Krugman:
http://www.nytimes.com/2010/02/01/opinion/01krugman.html
by acanuck on Sun, 03/06/2011 - 1:30am