Saturday, August 22, 2015

Bankrupted Nobel prize winning economist says economy needs more debt

When the Nobel committee handed out their prize for Economics to Paul Krugman back in 2008, the selectors must have thought they were giving it to Jack Klugman as a life-time achievement award, because the sad fact is the man who couldn’t even handle his own personal finances is little more than the butt of jokes when it comes to speaking out on financial and economic matters today.
And as the equity and bond markets start to crack in the U.S. during this month of August, the winner of the once meaningful Nobel Prize in Economics came out on Aug. 21 and said that the solution to this new and growing financial debt crisis is…
More debt.

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