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	<title>Credit Writedowns &#187; Krugman</title>
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	<description>Finance, Economics and Markets</description>
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		<title>On private debt</title>
		<link>http://www.creditwritedowns.com/2011/08/on-private-debt.html</link>
		<comments>http://www.creditwritedowns.com/2011/08/on-private-debt.html#comments</comments>
		<pubDate>Thu, 18 Aug 2011 18:00:00 +0000</pubDate>
		<dc:creator>Guest Author</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[credit crisis]]></category>
		<category><![CDATA[debt]]></category>
		<category><![CDATA[Krugman]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=31321</guid>
		<description><![CDATA[<p>Households are in far worse shape now than in the 1930s, with a peak debt level that is two and a half times as high as it was in 1930. That’s why the crisis now is manifesting itself in stagnant consumer demand. It doesn’t involve the same plunge into deflation as the Great Depression, but it does imply a more drawn out deleveraging, because it’s much harder for households to reduce debt than it is for businesses</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2011/08/on-private-debt.html">On private debt</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2011/05/steve-keen-on-us-double-dip.html" rel="bookmark">Steve Keen on a Double Dip and Private Debt</a> 26 May 2011<!-- (28.3)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/06/b-secures-private-equity-rescue-funding.html" rel="bookmark">B&amp;B secures private equity rescue funding</a> 2 Jun 2008<!-- (17.7)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/03/press-release-public-private-partnership-investment-program.html" rel="bookmark">Press Release: Public Private Partnership Investment Program</a> 23 Mar 2009<!-- (17.3)--></li>
	</ul>
]]></description>
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		<slash:comments>12</slash:comments>
		</item>
		<item>
		<title>Paul Krugman Still Gets MMT Wrong</title>
		<link>http://www.creditwritedowns.com/2011/08/more-krugman-on-mmt.html</link>
		<comments>http://www.creditwritedowns.com/2011/08/more-krugman-on-mmt.html#comments</comments>
		<pubDate>Wed, 17 Aug 2011 19:00:30 +0000</pubDate>
		<dc:creator>Randall Wray</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[deficits]]></category>
		<category><![CDATA[Federal Reserve]]></category>
		<category><![CDATA[fiat currency]]></category>
		<category><![CDATA[Fiscal]]></category>
		<category><![CDATA[hyperinflation]]></category>
		<category><![CDATA[inflation]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[monetary policy]]></category>
		<category><![CDATA[sectoral balances]]></category>
		<category><![CDATA[seigniorage]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=31313</guid>
		<description><![CDATA[<p>I appreciate the role that Krugman plays. Like many of you, I enjoy reading his blogs and more often than not, I agree with him. He is almost the lone, sane, voice in a position of authority who argues against the standard deficit hyperventilation that is driving the nation into a great depression. I mean no disrespect in the following critique. And I am glad that he is writing about MMT—most of those within the Beltway simply ignore it. But there are two reasons to respond to his critique: first, there is some hope that he might change his mind and embrace MMT. That would allow him to mount a much more powerful attack on the deficit hysterians. Second, he is misleading his many readers—by misstating what MMT believes, and by his own misunderstanding of monetary operations</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2011/08/more-krugman-on-mmt.html">Paul Krugman Still Gets MMT Wrong</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2009/02/paul-krugman-on-the-global-economy.html" rel="bookmark">Paul Krugman on the global economy</a> 13 Feb 2009<!-- (36.7)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/10/paul-krugman-wins-nobel-prize.html" rel="bookmark">Paul Krugman wins Nobel Prize</a> 13 Oct 2008<!-- (36.3)--></li>
		<li><a href="http://www.creditwritedowns.com/2010/07/why-does-dennis-gartman-sound-like-paul-krugman.html" rel="bookmark">Why Does Dennis Gartman Sound Like Paul Krugman?</a> 7 Jul 2010<!-- (36.3)--></li>
	</ul>
]]></description>
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		<slash:comments>11</slash:comments>
		</item>
		<item>
		<title>For whatever reason</title>
		<link>http://www.creditwritedowns.com/2011/08/interest-rates-reflect-policy-rate-expectations.html</link>
		<comments>http://www.creditwritedowns.com/2011/08/interest-rates-reflect-policy-rate-expectations.html#comments</comments>
		<pubDate>Mon, 15 Aug 2011 19:00:38 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Markets]]></category>
		<category><![CDATA[expectations theory]]></category>
		<category><![CDATA[Federal Reserve]]></category>
		<category><![CDATA[financial repression]]></category>
		<category><![CDATA[interest rates]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[Modern Monetary Theory]]></category>
		<category><![CDATA[monetary policy]]></category>
		<category><![CDATA[permanent zero]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=31223</guid>
		<description><![CDATA[<p>Investors shunning US debt ‘for whatever reason’ presupposes the outcome. I need to see the steps that get us from 2.25% 10-year rates to 4 or 5% without the Fed actively raising rates because the only way rates are going higher is because the Fed is forced by inflation to raise them</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2011/08/interest-rates-reflect-policy-rate-expectations.html">For whatever reason</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2010/08/the-real-reason-banks-arent-lending.html" rel="bookmark">The Real Reason Banks Aren&#8217;t Lending</a> 4 Aug 2010<!-- (23)--></li>
	</ul>
]]></description>
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		<slash:comments>6</slash:comments>
		</item>
		<item>
		<title>Krugman on Modern Monetary Theory</title>
		<link>http://www.creditwritedowns.com/2011/08/krugman-on-mmt.html</link>
		<comments>http://www.creditwritedowns.com/2011/08/krugman-on-mmt.html#comments</comments>
		<pubDate>Mon, 15 Aug 2011 05:18:09 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[currencies]]></category>
		<category><![CDATA[currency sovereignty]]></category>
		<category><![CDATA[deficits]]></category>
		<category><![CDATA[Fiscal]]></category>
		<category><![CDATA[inflation]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[liquidity trap]]></category>
		<category><![CDATA[Modern Monetary Theory]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=31167</guid>
		<description><![CDATA[<p>Last summer I wrote a post clarifying some points that I have learned about Modern Monetary Theory. The genesis of the post was a gross mischaracterization of Modern Money Theory (MMT) by Paul Krugman in a piece called “I Would Do Anything For Stimulus, But I Won’t Do That (Wonkish)”, which Paul Krugman had written in July of last year. Last week Paul Krugman again attempted to take on MMT in another piece called "Franc Thoughts on Long Run Issues."</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2011/08/krugman-on-mmt.html">Krugman on Modern Monetary Theory</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2010/07/misunderstanding-modern-monetary-theory.html" rel="bookmark">Misunderstanding Modern Monetary Theory</a> 17 Jul 2010<!-- (59.4)--></li>
		<li><a href="http://www.creditwritedowns.com/2010/07/paul-mcculley-does-modern-monetary-theory.html" rel="bookmark">Paul McCulley does Modern Monetary Theory</a> 14 Jul 2010<!-- (56.8)--></li>
		<li><a href="http://www.creditwritedowns.com/2011/01/turkeys-audacious-experiment-in-post-modern-monetary-policy.html" rel="bookmark">Turkey&#8217;s Audacious Experiment In &#8216;Post Modern&#8217; Monetary Policy</a> 8 Jan 2011<!-- (35.7)--></li>
	</ul>
]]></description>
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		<slash:comments>9</slash:comments>
		</item>
		<item>
		<title>Greece: Last Exit To Nowhere?</title>
		<link>http://www.creditwritedowns.com/2011/05/greece-last-exit-to-nowhere.html</link>
		<comments>http://www.creditwritedowns.com/2011/05/greece-last-exit-to-nowhere.html#comments</comments>
		<pubDate>Sun, 15 May 2011 23:30:05 +0000</pubDate>
		<dc:creator>Edward Hugh</dc:creator>
				<category><![CDATA[Political Economy]]></category>
		<category><![CDATA[Argentina]]></category>
		<category><![CDATA[Chile]]></category>
		<category><![CDATA[contagion]]></category>
		<category><![CDATA[currencies]]></category>
		<category><![CDATA[defaults]]></category>
		<category><![CDATA[Euro]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[eurozone periphery]]></category>
		<category><![CDATA[Greece]]></category>
		<category><![CDATA[internal devaluation]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[sovereign debt crisis]]></category>
		<category><![CDATA[Turkey]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=28231</guid>
		<description><![CDATA[<p>If the strongest argument against going back to the Drachma always was that this would imply default, now that default is coming, why not allow Greece to devalue? As Krugman says, the issue isn’t whether Greece would openly decide to exit the euro, the issue is what happens if the markets force this solution on Greek and European leaders? Given the programme isn’t working, the likelihood of this event occurring in the next 2 or 3 years is far from being negligible, so why not be proactive rather than always being reactive? What matters is whether Greece becomes Turkey (oh what a historical irony) or Argentina. If the powers that be can agree on an ordered restructuring of Greek debt, and a controlled exit from the Eurozone, then Greece has some possibilities of turning the situation round. If exit is forced on Greece in order to escape the clutches of both the EU and the IMF then the move will be, as I suggest in my title, simply the last exit to nowhere</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2011/05/greece-last-exit-to-nowhere.html">Greece: Last Exit To Nowhere?</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2011/05/greece-euro-zone-exit-seems-unlikely.html" rel="bookmark">Greece Euro Zone Exit Seems Unlikely</a> 6 May 2011<!-- (38.6)--></li>
		<li><a href="http://www.creditwritedowns.com/2010/05/a-united-states-of-europe-or-full-exit-from-the-euro.html" rel="bookmark">A &#8216;United States of Europe&#8217; or Full Exit From the Euro?</a> 15 May 2010<!-- (21.6)--></li>
		<li><a href="http://www.creditwritedowns.com/2011/05/greece-is-considering-withdrawal-from-the-euro-zone-rumour.html" rel="bookmark">Greece is considering withdrawal from the Euro-zone (rumour)</a> 6 May 2011<!-- (20.5)--></li>
	</ul>
]]></description>
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		<slash:comments>4</slash:comments>
		</item>
		<item>
		<title>Ben Bernanke&#8217;s Press Conference</title>
		<link>http://www.creditwritedowns.com/2011/04/ben-bernankes-press-conference.html</link>
		<comments>http://www.creditwritedowns.com/2011/04/ben-bernankes-press-conference.html#comments</comments>
		<pubDate>Wed, 27 Apr 2011 20:45:48 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Political Economy]]></category>
		<category><![CDATA[Ben Bernanke]]></category>
		<category><![CDATA[bubbles]]></category>
		<category><![CDATA[commodities]]></category>
		<category><![CDATA[Federal Reserve]]></category>
		<category><![CDATA[inflation]]></category>
		<category><![CDATA[interest rates]]></category>
		<category><![CDATA[Jeremy Grantham]]></category>
		<category><![CDATA[jobs]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[reflexivity]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=27758</guid>
		<description><![CDATA[<p>Today marks the first time we are witnessing a regularly scheduled news conference by a Fed chairman in the Federal Reserve's 98-year history. Most reactions to Ben Bernanke's performance were positive, meaning he reiterated the themes he has consistently delivered in the past without making any gaffes. But that goes to style; what about substance? Here's my take</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2011/04/ben-bernankes-press-conference.html">Ben Bernanke&#8217;s Press Conference</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2011/04/fomc-preview-bernankes-press-conference-has-the-potential-to-be-disruptive.html" rel="bookmark">FOMC Preview: Bernanke&#8217;s press conference has the potential to be disruptive</a> 26 Apr 2011<!-- (41.4)--></li>
		<li><a href="http://www.creditwritedowns.com/2010/12/parsing-helicopter-speech.html" rel="bookmark">The government has a printing press to produce U.S. dollars at essentially no cost</a> 6 Dec 2010<!-- (20.7)--></li>
		<li><a href="http://www.creditwritedowns.com/2011/04/meet-the-press-mr-bernanke.html" rel="bookmark">Meet the Press, Mr. Bernanke</a> 27 Apr 2011<!-- (20.5)--></li>
	</ul>
]]></description>
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		<slash:comments>9</slash:comments>
		</item>
		<item>
		<title>Thoughts on Austerity</title>
		<link>http://www.creditwritedowns.com/2011/03/thoughts-on-austerity.html</link>
		<comments>http://www.creditwritedowns.com/2011/03/thoughts-on-austerity.html#comments</comments>
		<pubDate>Fri, 25 Mar 2011 18:24:46 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[austerity]]></category>
		<category><![CDATA[Britain]]></category>
		<category><![CDATA[economic growth]]></category>
		<category><![CDATA[Ireland]]></category>
		<category><![CDATA[Knightian uncertainty]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[Modern Monetary Theory]]></category>
		<category><![CDATA[paradox of thrift]]></category>
		<category><![CDATA[Portugal]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/2011/03/thoughts-on-austerity.html</guid>
		<description><![CDATA[<p>Yesterday, Paul Krugman wrote: Portugal’s government has just fallen in a dispute over austerity proposals. Irish bond yields have topped 10 percent for the first time. And the British government has just marked its economic forecast down and its deficit forecast up. What do these events have in common? They’re all evidence that slashing spending </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2011/03/thoughts-on-austerity.html">Thoughts on Austerity</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2010/10/mmt-a-few-thoughts-on-austerity-currency-wars-and-exchange-rates.html" rel="bookmark">MMT: A few thoughts on austerity, currency wars and exchange rates</a> 25 Oct 2010<!-- (30)--></li>
		<li><a href="http://www.creditwritedowns.com/2011/01/britains-austerity-obama-as-herbert-hoover.html" rel="bookmark">On Britain&#8217;s Austerity and Rosenberg&#8217;s Depiction of Obama as Herbert Hoover</a> 27 Jan 2011<!-- (17.9)--></li>
		<li><a href="http://www.creditwritedowns.com/2010/06/austerity-uk-links.html" rel="bookmark">Austerity in the UK and Other Links</a> 22 Jun 2010<!-- (17.8)--></li>
	</ul>
]]></description>
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		<slash:comments>20</slash:comments>
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		<item>
		<title>Cotton Hoarding in China Shows There is Serious Commodities Speculation</title>
		<link>http://www.creditwritedowns.com/2011/02/cotton-hoarding-in-china-shows-there-is-serious-commodities-speculation.html</link>
		<comments>http://www.creditwritedowns.com/2011/02/cotton-hoarding-in-china-shows-there-is-serious-commodities-speculation.html#comments</comments>
		<pubDate>Thu, 17 Feb 2011 18:40:16 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Markets]]></category>
		<category><![CDATA[Bill Gross]]></category>
		<category><![CDATA[bonds]]></category>
		<category><![CDATA[bubbles]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[commodities]]></category>
		<category><![CDATA[interest rates]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[psychology]]></category>
		<category><![CDATA[quantitative easing]]></category>
		<category><![CDATA[speculation]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=26143</guid>
		<description><![CDATA[<p><p>You have to watch this video to believe it. The speculation in the commodities market is well out of hand. Cotton futures are at a record high on speculation that demand in China will continue to increase, as China is the world’s largest importer of cotton. Add in the flooding in Australia and you have the makings of a rally driven by fundamentals but bolstered and amplified by speculation.</p>

<p>Bloomberg explains in the video below.</p</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2011/02/cotton-hoarding-in-china-shows-there-is-serious-commodities-speculation.html">Cotton Hoarding in China Shows There is Serious Commodities Speculation</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
<br /><small>Credit Writedowns Feed # abf0d081857b85fe6be494728740a4f1</small></p><strong>Related Posts</strong>
<ul>
		<li><a href="http://www.creditwritedowns.com/2010/06/china-speculation-key-driver.html" rel="bookmark">China Speculation Key Driver</a> 21 Jun 2010<!-- (33.3)--></li>
		<li><a href="http://www.creditwritedowns.com/2010/10/china-surplus-shrinks-reserves-and-credit-grow-amid-speculation-on-revaluation.html" rel="bookmark">China: Surplus Shrinks, Reserves and Credit Grow Amid Speculation on Revaluation</a> 13 Oct 2010<!-- (31.3)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/06/paul-krugman-liquidity-trap-makes-future-more-or-less-speculation.html" rel="bookmark">Paul Krugman: Liquidity trap makes future &lsquo;more or less speculation&#8217;</a> 13 Jun 2009<!-- (21)--></li>
	</ul>
]]></description>
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		<slash:comments>6</slash:comments>
		</item>
		<item>
		<title>Krugman, China and the role of finance</title>
		<link>http://www.creditwritedowns.com/2010/11/krugman-china-and-the-role-of-finance.html</link>
		<comments>http://www.creditwritedowns.com/2010/11/krugman-china-and-the-role-of-finance.html#comments</comments>
		<pubDate>Mon, 22 Nov 2010 21:35:42 +0000</pubDate>
		<dc:creator>Michael Hudson</dc:creator>
				<category><![CDATA[Political Economy]]></category>
		<category><![CDATA[central banks]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[currency wars]]></category>
		<category><![CDATA[Federal Reserve]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[nationalism]]></category>
		<category><![CDATA[protectionism]]></category>
		<category><![CDATA[quantitative easing]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=22593</guid>
		<description><![CDATA[<p>by Michael Hudson Here’s the quandary that the U.S. economy is in: The Fed’s quantitative easing policy– creating more liquidity so that banks can lend more – aims at helping the economy “borrow its way out of debt.” But banks are not lending more, for the simple reason that a third of U.S. real estate </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2010/11/krugman-china-and-the-role-of-finance.html">Krugman, China and the role of finance</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
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		<li><a href="http://www.creditwritedowns.com/2010/10/krugman-china-is-really-the-bad-guy-in-currency-war.html" rel="bookmark">Krugman: China is &#8216;Really the Bad Guy&#8217; in Currency War</a> 14 Oct 2010<!-- (33.6)--></li>
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	</ul>
]]></description>
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		<slash:comments>6</slash:comments>
		</item>
		<item>
		<title>Krugman: China is &#8216;Really the Bad Guy&#8217; in Currency War</title>
		<link>http://www.creditwritedowns.com/2010/10/krugman-china-is-really-the-bad-guy-in-currency-war.html</link>
		<comments>http://www.creditwritedowns.com/2010/10/krugman-china-is-really-the-bad-guy-in-currency-war.html#comments</comments>
		<pubDate>Thu, 14 Oct 2010 12:21:13 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Political Economy]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[currencies]]></category>
		<category><![CDATA[currency wars]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[protectionism]]></category>
		<category><![CDATA[quantitative easing]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=21281</guid>
		<description><![CDATA[<p>The U.S. Senate will pass legislation geared to pressuring China to revalue its currency and the US is set to label China a currency manipulator. The view in Washington ahead of the mid-terms is that China is &#34;the bad guy&#34; as Paul Krugman explains in the video below. Here is a synopsis of the Krugman </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2010/10/krugman-china-is-really-the-bad-guy-in-currency-war.html">Krugman: China is &#8216;Really the Bad Guy&#8217; in Currency War</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
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	</ul>
]]></description>
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		<slash:comments>4</slash:comments>
		</item>
		<item>
		<title>Since Plaza Accord dollar-yen has sunk 70% without decreasing US deficit with Japan</title>
		<link>http://www.creditwritedowns.com/2010/10/since-plaza-accord-dollar-yen-has-sunk-70-without-decreasing-us-deficit-with-japan.html</link>
		<comments>http://www.creditwritedowns.com/2010/10/since-plaza-accord-dollar-yen-has-sunk-70-without-decreasing-us-deficit-with-japan.html#comments</comments>
		<pubDate>Thu, 14 Oct 2010 03:47:53 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Political Economy]]></category>
		<category><![CDATA[asset-based economy]]></category>
		<category><![CDATA[currencies]]></category>
		<category><![CDATA[David Rosenberg]]></category>
		<category><![CDATA[Japan]]></category>
		<category><![CDATA[Krugman]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=21279</guid>
		<description><![CDATA[<p>In regards to Paul Krugman&#8217;s argument&#8217;s on China in the video in the last post, I think this quote from David Rosenberg&#8217;s latest daily market commentary is spot on: Since 1985, dollar-yen has sunk nearly 70% and yet the US has the same&#160; bilateral deficit with Japan today as it had then.&#160; So why does </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2010/10/since-plaza-accord-dollar-yen-has-sunk-70-without-decreasing-us-deficit-with-japan.html">Since Plaza Accord dollar-yen has sunk 70% without decreasing US deficit with Japan</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
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	</ul>
]]></description>
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		<slash:comments>3</slash:comments>
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		<title>Krugman: We Need $8-10 Trillion Worth of Quantitative Easing</title>
		<link>http://www.creditwritedowns.com/2010/10/krugman-we-need-8-10-trillion-worth-of-quantitative-easing.html</link>
		<comments>http://www.creditwritedowns.com/2010/10/krugman-we-need-8-10-trillion-worth-of-quantitative-easing.html#comments</comments>
		<pubDate>Thu, 14 Oct 2010 02:43:47 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Political Economy]]></category>
		<category><![CDATA[currency wars]]></category>
		<category><![CDATA[Fiscal]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[quantitative easing]]></category>
		<category><![CDATA[stimulus]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=21277</guid>
		<description><![CDATA[<p>The interesting thing about this clip is that Paul Krugman is probably right: you need trillions of printed dollars to get the stimulative effect the Federal Reserve is looking for. Ambrose Evans Pritchard was talking about taking the Fed&#8217;s balance sheet to $5 trillion in June. Fed watchers say Mr Bernanke and his close allies </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2010/10/krugman-we-need-8-10-trillion-worth-of-quantitative-easing.html">Krugman: We Need $8-10 Trillion Worth of Quantitative Easing</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<title>Deficits Do Matter, But Not the Way You Think</title>
		<link>http://www.creditwritedowns.com/2010/07/wray-deficits-do-matter-but-not-the-way-you-think.html</link>
		<comments>http://www.creditwritedowns.com/2010/07/wray-deficits-do-matter-but-not-the-way-you-think.html#comments</comments>
		<pubDate>Wed, 21 Jul 2010 00:30:21 +0000</pubDate>
		<dc:creator>Randall Wray</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[austerity]]></category>
		<category><![CDATA[currency sovereignty]]></category>
		<category><![CDATA[Fiscal]]></category>
		<category><![CDATA[James Galbraith]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[Modern Monetary Theory]]></category>

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		<description><![CDATA[<p>By L. Randall Wray, Professor of Economics at the University of Missouri-Kansas City, Research Director with the Center for Full Employment and Price Stability and Senior Research Scholar at The Levy Economics Institute. In recent months, a form of mass hysteria has swept the country as fear of “unsustainable” budget deficits replaced the earlier concern </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2010/07/wray-deficits-do-matter-but-not-the-way-you-think.html">Deficits Do Matter, But Not the Way You Think</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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	</ul>
]]></description>
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		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Misunderstanding Modern Monetary Theory</title>
		<link>http://www.creditwritedowns.com/2010/07/misunderstanding-modern-monetary-theory.html</link>
		<comments>http://www.creditwritedowns.com/2010/07/misunderstanding-modern-monetary-theory.html#comments</comments>
		<pubDate>Sat, 17 Jul 2010 21:23:10 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[bankruptcy]]></category>
		<category><![CDATA[currency sovereignty]]></category>
		<category><![CDATA[fiat currency]]></category>
		<category><![CDATA[inflation]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[Modern Monetary Theory]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/2010/07/misunderstanding-modern-monetary-theory.html</guid>
		<description><![CDATA[<p>Paul Krugman wrote a post today regarding MMT called &#34;I Would Do Anything For Stimulus, But I Won’t Do That (Wonkish).&#34; The gist of Krugman&#8217;s post was to refute Modern Monetary Theory&#8217;s view on money and deficits. Krugman writes: Right now, the real policy debate is whether we need fiscal austerity even with the economy </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2010/07/misunderstanding-modern-monetary-theory.html">Misunderstanding Modern Monetary Theory</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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	</ul>
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		<slash:comments>45</slash:comments>
		</item>
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		<title>Why Does Dennis Gartman Sound Like Paul Krugman?</title>
		<link>http://www.creditwritedowns.com/2010/07/why-does-dennis-gartman-sound-like-paul-krugman.html</link>
		<comments>http://www.creditwritedowns.com/2010/07/why-does-dennis-gartman-sound-like-paul-krugman.html#comments</comments>
		<pubDate>Wed, 07 Jul 2010 16:24:21 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Political Economy]]></category>
		<category><![CDATA[austerity]]></category>
		<category><![CDATA[currencies]]></category>
		<category><![CDATA[Dennis Gartman]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[stimulus]]></category>
		<category><![CDATA[stocks]]></category>
		<category><![CDATA[taxes]]></category>

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		<description><![CDATA[<p>Listen to Paul Krugman in the first video with Bloomberg and then listen to Dennis Gartman in the second. The two seem to be arguing the same point – that the G-8 austerity position of higher taxes and lower government spending is the wrong medicine for the global economy. It sounds to me like, the </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2010/07/why-does-dennis-gartman-sound-like-paul-krugman.html">Why Does Dennis Gartman Sound Like Paul Krugman?</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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	</ul>
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		<title>European Credit Crisis: Germans Throwing Stones</title>
		<link>http://www.creditwritedowns.com/2010/06/european-credit-crisis-germans-throwing-stones.html</link>
		<comments>http://www.creditwritedowns.com/2010/06/european-credit-crisis-germans-throwing-stones.html#comments</comments>
		<pubDate>Wed, 23 Jun 2010 19:24:34 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Financial Institutions]]></category>
		<category><![CDATA[banks]]></category>
		<category><![CDATA[capital]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[Germany]]></category>
		<category><![CDATA[Krugman]]></category>

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		<description><![CDATA[<p>Paul Krugman has it right when he says this: I hold no brief for weak financial regulation in America. But it’s a bad sign that Germans still think of this as a made-in-America crisis. The truth is that the European housing bubble was as big or bigger than the US bubble; not in Germany, true, </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2010/06/european-credit-crisis-germans-throwing-stones.html">European Credit Crisis: Germans Throwing Stones</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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	</ul>
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		<slash:comments>14</slash:comments>
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		<title>Links: 2010-02-23 &#8211; Krugman, Doomsday Cycle, Eurozone and more</title>
		<link>http://www.creditwritedowns.com/2010/02/links-2010-02-23-krugman-doomsday-cycle-eurozone-and-more.html</link>
		<comments>http://www.creditwritedowns.com/2010/02/links-2010-02-23-krugman-doomsday-cycle-eurozone-and-more.html#comments</comments>
		<pubDate>Tue, 23 Feb 2010 13:27:52 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[currencies]]></category>
		<category><![CDATA[Europe]]></category>
		<category><![CDATA[financial news]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[regulation]]></category>

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		<description><![CDATA[<p>How Paul Krugman found politics : The New Yorker Morgan Stanley – Richard Berner – We Can&#8217;t Inflate Our Way Out Recession hits older blacks in what should be their prime &#124; McClatchy Greece should try a fiscal devaluation, not holiday from the Eurozone &#124; vox How to destroy the Eurozone: Feldstein’s euro-holiday idea &#124; </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2010/02/links-2010-02-23-krugman-doomsday-cycle-eurozone-and-more.html">Links: 2010-02-23 &ndash; Krugman, Doomsday Cycle, Eurozone and more</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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	</ul>
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		<title>The housing bubble: In Bernanke&#8217;s defense?</title>
		<link>http://www.creditwritedowns.com/2010/01/the-housing-bubble-in-bernankes-defense.html</link>
		<comments>http://www.creditwritedowns.com/2010/01/the-housing-bubble-in-bernankes-defense.html#comments</comments>
		<pubDate>Sat, 09 Jan 2010 18:30:03 +0000</pubDate>
		<dc:creator>Marshall Auerback</dc:creator>
				<category><![CDATA[Political Economy]]></category>
		<category><![CDATA[Ben Bernanke]]></category>
		<category><![CDATA[bubbles]]></category>
		<category><![CDATA[interest rates]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[money]]></category>
		<category><![CDATA[regulation]]></category>

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		<description><![CDATA[<p>Federal Reserve Chairman Ben Bernanke recently defended the Federal Reserve’s low-interest rate monetary policy which preceded the housing bubble in the United States. Bernanke instead pointed to a lack of regulatory controls as the major cause of the events which led to a breakdown of the system. Paul Krugman weighed in on the issue, agreeing </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2010/01/the-housing-bubble-in-bernankes-defense.html">The housing bubble: In Bernanke&#8217;s defense?</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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	</ul>
]]></description>
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		<title>Why economists failed to anticipate the financial crisis</title>
		<link>http://www.creditwritedowns.com/2010/01/why-economists-failed-to-anticipate-the-financial-crisis.html</link>
		<comments>http://www.creditwritedowns.com/2010/01/why-economists-failed-to-anticipate-the-financial-crisis.html#comments</comments>
		<pubDate>Sat, 02 Jan 2010 07:00:57 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[asset-based economy]]></category>
		<category><![CDATA[Austrian Economics]]></category>
		<category><![CDATA[credit crisis]]></category>
		<category><![CDATA[debt]]></category>
		<category><![CDATA[interest rates]]></category>
		<category><![CDATA[Krugman]]></category>

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		<description><![CDATA[<p>About three months ago, Nobel Prize winning economist Paul Krugman took a stab at explaining why economists didn’t anticipate the worst financial crisis in three-quarters of a century. His was a long piece, taking up eight pages and 6,000 words at the New York Times website. His overview was certainly one of the best in </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2010/01/why-economists-failed-to-anticipate-the-financial-crisis.html">Why economists failed to anticipate the financial crisis</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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	</ul>
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		<title>Roubini: For unemployment &quot;the worst is yet to come&quot;</title>
		<link>http://www.creditwritedowns.com/2009/11/roubini-for-unemployment-the-worst-is-yet-to-come.html</link>
		<comments>http://www.creditwritedowns.com/2009/11/roubini-for-unemployment-the-worst-is-yet-to-come.html#comments</comments>
		<pubDate>Mon, 16 Nov 2009 05:01:10 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[double dip]]></category>
		<category><![CDATA[jobs]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[liquidity trap]]></category>
		<category><![CDATA[money]]></category>
		<category><![CDATA[Nouriel Roubini]]></category>
		<category><![CDATA[quantitative easing]]></category>
		<category><![CDATA[stimulus]]></category>
		<category><![CDATA[taxes]]></category>

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		<description><![CDATA[<p>Nouriel Roubini, writing in the New York Daily News , said on Sunday that “unemployed Americans should hunker down for more job losses” given the likelihood of a job less recovery. This was as gloomy a piece as I have seen from Roubini in the past few months. He has clearly become more downbeat about </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/11/roubini-for-unemployment-the-worst-is-yet-to-come.html">Roubini: For unemployment &quot;the worst is yet to come&quot;</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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	</ul>
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		<title>The Great Depression II meme</title>
		<link>http://www.creditwritedowns.com/2009/06/the-great-depression-ii-meme.html</link>
		<comments>http://www.creditwritedowns.com/2009/06/the-great-depression-ii-meme.html#comments</comments>
		<pubDate>Mon, 15 Jun 2009 13:08:31 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[debt]]></category>
		<category><![CDATA[double dip]]></category>
		<category><![CDATA[financial history]]></category>
		<category><![CDATA[Fiscal]]></category>
		<category><![CDATA[Great Depression]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[stimulus]]></category>
		<category><![CDATA[Willem Buiter]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/2009/06/the-great-depression-ii-meme.html</guid>
		<description><![CDATA[<p>Last night I wrote an article reminding you that downside risk remains in the global economy.  While I have been singing a more bullish tuneregarding the prospect of a technical recovery in 2009, I am concerned about a double dip as a likely outcome. And for the record, I have said I see a recovery </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/06/the-great-depression-ii-meme.html">The Great Depression II meme</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<title>Paul Krugman: Liquidity trap makes future &#8216;more or less speculation&#8217;</title>
		<link>http://www.creditwritedowns.com/2009/06/paul-krugman-liquidity-trap-makes-future-more-or-less-speculation.html</link>
		<comments>http://www.creditwritedowns.com/2009/06/paul-krugman-liquidity-trap-makes-future-more-or-less-speculation.html#comments</comments>
		<pubDate>Sun, 14 Jun 2009 02:22:37 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[international]]></category>
		<category><![CDATA[Japan]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[liquidity trap]]></category>
		<category><![CDATA[money]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/2009/06/paul-krugman-liquidity-trap-makes-future-more-or-less-speculation.html</guid>
		<description><![CDATA[<p>Will Hutton has a pretty good interview with Paul Krugman in the Guardian newspaper.  The exchange is quite long, so it gives you a fairly broad understanding of Krugman’s view on the global economy and specific country economies.  What I found especially interesting was Krugman’s admission that we are essentially flying blind. The Federal Reserve </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/06/paul-krugman-liquidity-trap-makes-future-more-or-less-speculation.html">Paul Krugman: Liquidity trap makes future &lsquo;more or less speculation&#8217;</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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<ul>
		<li><a href="http://www.creditwritedowns.com/2008/04/liquidity-trap-of-different-sort.html" rel="bookmark">Liquidity trap of a different sort</a> 22 Apr 2008<!-- (40.5)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/02/paul-krugman-on-the-global-economy.html" rel="bookmark">Paul Krugman on the global economy</a> 13 Feb 2009<!-- (38.5)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/10/paul-krugman-wins-nobel-prize.html" rel="bookmark">Paul Krugman wins Nobel Prize</a> 13 Oct 2008<!-- (37.1)--></li>
	</ul>
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		<title>Paul Krugman on the global economy</title>
		<link>http://www.creditwritedowns.com/2009/02/paul-krugman-on-the-global-economy.html</link>
		<comments>http://www.creditwritedowns.com/2009/02/paul-krugman-on-the-global-economy.html#comments</comments>
		<pubDate>Fri, 13 Feb 2009 13:10:25 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Economy]]></category>
		<category><![CDATA[international]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[market wizards]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=6008</guid>
		<description><![CDATA[<p>Below is a clip from the World Affairs Council meeting in Oregon with Paul Krugman as keynote speaker.  The clip runs 1 hour and 34 minutes.  However, Krugman's piece, which is the centerpiece starts at about 13 minutes.  And runs through his ideas first before they open it up to questions.  Well worth a look</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2009/02/paul-krugman-on-the-global-economy.html">Paul Krugman on the global economy</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<li><a href="http://www.creditwritedowns.com/2008/10/paul-krugman-wins-nobel-prize.html" rel="bookmark">Paul Krugman wins Nobel Prize</a> 13 Oct 2008<!-- (37.5)--></li>
		<li><a href="http://www.creditwritedowns.com/2009/01/jim-oneill-on-the-global-economy.html" rel="bookmark">Jim O&#8217;Neill on the Global Economy</a> 9 Jan 2009<!-- (29.7)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/10/where-is-global-economy-headed.html" rel="bookmark">Where is the global economy headed?</a> 11 Oct 2008<!-- (28.7)--></li>
	</ul>
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		<title>Obama&#8217;s stimulus bill is a tough sell so far</title>
		<link>http://www.creditwritedowns.com/2009/01/obamas-stimulus-bill-is-a-tough-sell-so-far.html</link>
		<comments>http://www.creditwritedowns.com/2009/01/obamas-stimulus-bill-is-a-tough-sell-so-far.html#comments</comments>
		<pubDate>Wed, 07 Jan 2009 13:54:45 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Political Economy]]></category>
		<category><![CDATA[Barack Obama]]></category>
		<category><![CDATA[government]]></category>
		<category><![CDATA[journalism]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[market wizards]]></category>
		<category><![CDATA[media]]></category>
		<category><![CDATA[stimulus]]></category>
		<category><![CDATA[video]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=3339</guid>
		<description><![CDATA[<p><strong>Update 07 Mar 2009</strong>: I am re-posting this in light of increasing evidence that Obama's stimulus bill was in fact too small.  Paul Krugman has a good post today called "<a href="http://krugman.blogs.nytimes.com/2009/03/07/one-sided-debate/">One-sided debate</a>,"  which reminds us he made that argument but was essentially ignored.
<br /><br />
President-elect Barack Obama has won plaudits for his management skills as he prepares for office in less than two weeks.  However, his stimulus bill is coming under fire from both the right and the left.  On the left, Paul Krugman is critical about the high proportion of so-called stimulus that Obama's proposal gets from tax cuts.  On the right, Republicans like the fact that Obama is not only living up to his tax cut promises for the middle class but is also delaying a return to pre-Bush tax levels for the wealthy.  However, there is pause within Republican ranks about the size of this package and the debt load that will go along with it</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2009/01/obamas-stimulus-bill-is-a-tough-sell-so-far.html">Obama&#8217;s stimulus bill is a tough sell so far</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
<br /> <br />Links: <a href="http://www.creditwritedowns.com/feed">RSS</a> - <a href="http://eepurl.com/hfF3U">Daily</a> - <a href="http://eepurl.com/eklTA">Weekly</a> - <a href="http://twitter.com/edwardnh">Twitter</a> - <a href="http://www.facebook.com/creditwritedowns">Facebook</a> - <a href="http://www.creditwritedowns.com/contact">Contact</a>
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		<li><a href="http://www.creditwritedowns.com/2008/09/congress-ready-with-second-simulus.html" rel="bookmark">Congress ready with second stimulus package</a> 15 Sep 2008<!-- (18.5)--></li>
		<li><a href="http://www.creditwritedowns.com/2008/12/a-brief-philosophical-argument-about-the-role-of-government-stimulus-and-recession.html" rel="bookmark">A brief philosophical argument about the role of government, stimulus and recession</a> 12 Dec 2008<!-- (18.1)--></li>
	</ul>
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		<title>Madoff as a signal to go for &#8220;regulation heavy&#8221;</title>
		<link>http://www.creditwritedowns.com/2008/12/madoff-as-a-signal-to-go-for-regulation-heavy.html</link>
		<comments>http://www.creditwritedowns.com/2008/12/madoff-as-a-signal-to-go-for-regulation-heavy.html#comments</comments>
		<pubDate>Mon, 22 Dec 2008 21:11:16 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Political Economy]]></category>
		<category><![CDATA[hedge funds]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[Madoff]]></category>
		<category><![CDATA[market wizards]]></category>
		<category><![CDATA[outlook]]></category>
		<category><![CDATA[regulation]]></category>
		<category><![CDATA[Willem Buiter]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/?p=2920</guid>
		<description><![CDATA[<p>On a recent Bloomberg Radio with Tom Keene broadcast, Harvey Pitt and Arthur Levitt, two former SEC Chairman were guests. Levitt made the suggestion that hedge funds had once been given the choice of "regulation-light" or "regulation-heavy." Now, in the wake of the Madoff scandal, "regulation-heavy" is all but assured. But, isn't this just</p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2008/12/madoff-as-a-signal-to-go-for-regulation-heavy.html">Madoff as a signal to go for &#8220;regulation heavy&#8221;</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<title>Back to the real economy</title>
		<link>http://www.creditwritedowns.com/2008/10/back-to-real-economy.html</link>
		<comments>http://www.creditwritedowns.com/2008/10/back-to-real-economy.html#comments</comments>
		<pubDate>Tue, 14 Oct 2008 19:45:00 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[capital investment]]></category>
		<category><![CDATA[compensation]]></category>
		<category><![CDATA[consumers]]></category>
		<category><![CDATA[jobs]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[manufacturing]]></category>
		<category><![CDATA[market wizards]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[retail sales]]></category>
		<category><![CDATA[savings]]></category>
		<category><![CDATA[Volcker]]></category>

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		<description><![CDATA[<p>Now that policy makers worldwide have finally stepped in to stop the bleeding, we have had a relief rally of monumental proportions. Most global indices were deep into oversold territory, meaning that there was lots of pent-up demand for a turn to the upside. A big rally to the upside was baked into the cards. </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2008/10/back-to-real-economy.html">Back to the real economy</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<li><a href="http://www.creditwritedowns.com/2008/03/us-economy-2008.html" rel="bookmark">The US Economy 2008</a> 11 Mar 2008<!-- (17.8)--></li>
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		<title>Paul Krugman wins Nobel Prize</title>
		<link>http://www.creditwritedowns.com/2008/10/paul-krugman-wins-nobel-prize.html</link>
		<comments>http://www.creditwritedowns.com/2008/10/paul-krugman-wins-nobel-prize.html#comments</comments>
		<pubDate>Mon, 13 Oct 2008 11:49:00 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[More]]></category>
		<category><![CDATA[financial news]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[market wizards]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/2008/10/paul-krugman-wins-nobel-prize.html</guid>
		<description><![CDATA[<p>This morning I woke up and was listening to Bloomberg Radio in bed when I heard Robert Shiller and John Ryding talking about about Paul Krugman. I quickly realized he was the Nobel Laureate in Economics for this year. Krugman, the Princeton Professor, is much better known for his leftist politics today than for his </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2008/10/paul-krugman-wins-nobel-prize.html">Paul Krugman wins Nobel Prize</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<title>News round-up: 15 Aug 2008 &#8211; blog edition</title>
		<link>http://www.creditwritedowns.com/2008/08/news-round-up-15-aug-2008-blog-edition.html</link>
		<comments>http://www.creditwritedowns.com/2008/08/news-round-up-15-aug-2008-blog-edition.html#comments</comments>
		<pubDate>Fri, 15 Aug 2008 13:00:00 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[financial news]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[market wizards]]></category>

		<guid isPermaLink="false">http://www.creditwritedowns.com/2008/08/news-round-up-15-aug-2008-blog-edition.html</guid>
		<description><![CDATA[<p>The complete and utter failure of owners&#8217; equivalent rent &#8211; Tim Iacono Inflation Versus Deflation: The Debate Continues &#8211; naked capitalism Dark Star &#8211; Bank Implode-O-Meter July Jump in CPI Suggests Third Quarter Growth Could be Negative &#8211; Dean Baker The impact of the 2008 rebate &#8211; Vox Central Bank Spam &#8211; Big Picture Prospect </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
<br >Also read our <a href="http://www.creditwritedowns.com/news-feed/">News Feed</a> for the latest financial and economic news.
<br ><a href="http://www.creditwritedowns.com/2008/08/news-round-up-15-aug-2008-blog-edition.html">News round-up: 15 Aug 2008 &#8211; blog edition</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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		<title>News Round-Up: 02 June 2008</title>
		<link>http://www.creditwritedowns.com/2008/06/news-round-up-02-june-2008.html</link>
		<comments>http://www.creditwritedowns.com/2008/06/news-round-up-02-june-2008.html#comments</comments>
		<pubDate>Tue, 03 Jun 2008 01:00:00 +0000</pubDate>
		<dc:creator>Edward Harrison</dc:creator>
				<category><![CDATA[News]]></category>
		<category><![CDATA[financial news]]></category>
		<category><![CDATA[Krugman]]></category>
		<category><![CDATA[market wizards]]></category>
		<category><![CDATA[peak oil]]></category>
		<category><![CDATA[Willem Buiter]]></category>

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		<description><![CDATA[<p>Has Oil Production Reached a &#8216;De Facto&#8217; Peak? Read It Here First: States&#8217; Impact on Economy States and Cities Impact On GDP Taleb&#8217;s Harsh Assessment of Bankers, Economists, and the Fed Housing Woes Hit Affluent Middle-Class Homeowners UBS CDS Lawsuit: Harbinger of Things to Come? The Opinionator: Enraged and ‘Confused’ Alt-A Borrowers Looking More Like </p><p><hr />Credit Writedowns Pro is now live. <a href="https://www.creditwritedowns.com/members/">Sign up today</a> for monthly or yearly subscriptions. 
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<br ><a href="http://www.creditwritedowns.com/2008/06/news-round-up-02-june-2008.html">News Round-Up: 02 June 2008</a> originally appeared on <a href="http://www.creditwritedowns.com">Credit Writedowns</a>
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