I was on Capital Account once again on Wednesday with Lauren Lyster. The topics of discussion this time were the US and global recessions, auto sales, and Paul Krugman.

Here is a video clip:

Link if video does not play: Paul “King” Krugman knocked off his Ivory Tower as Fools Sack the Hill! 

I regards to Krugman, I concluded with …

“His Keynesian thesis simply does not add up. We saw endless Keynesian and monetarist stimulus in Japan. It got them nothing. He learned nothing from Japan. He learned nothing from the great depression. Yet, because he has a Nobel prize, he can write a book and tell everyone what they should be doing. Man, this guy needs to get out of his ivory tower, Lauren, and get into the real world.”

Mike “Mish” Shedlock
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