Paul Krugman Giving Quotations

What Republicans have actually put on the table is almost nothing. All of the rest is just big talk. So how is the president supposed to negotiate with people who say, 'Here's my demands. By the way, I can't give you any specifics. Just make me happy'?

Sometimes economists in official positions give bad advice; sometimes they give very, very bad advice; and sometimes they work at the OECD.

I've always believed that a speculative bubble need not lead to a recession, as long as interest rates are cut quickly enough to stimulate alternative investments. But I had to face the fact that speculative bubbles usually are followed by recessions. My excuse has been that this was because the policy makers moved too slowly - that central banks were typically too slow to cut interest rates in the face of a burst bubble, giving the downturn time to build up a lot of momentum.