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Krugman on the US housing bubble
Uploaded by: bugmenotXX
Video Description:
Paul Krugman from Princeton University predicts the biggest housing bust in history.
Tags for this video: bubble crash estate house krugman price real
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Do a google image search on "history of real estate values US" and you'll see exactly what the problem is.
I don't think Krugman likes being right... especially about doom and gloom, but his past record is one that you dismiss him at your peril (Argentina, Asian market crisis, and now, World Financial Crisis).
But, since you mentioned it, no one believes Krugman anymore. He has been predicting US economic collapse since the early 1990s. Much like the boy who cried wolf, people get tired of him talking about recession, especially during times when the economy is growing. Doom and gloom sells papers but makes bad policy.
Why do you say he's a liar? His prediction, based on the evidence he provided, was both accurate and reasonable.