re: #70 Obdicut

No, it’s not, Ace. I can cite economists with more than a masters who think that lack of regulation contributed, so your appeal to your own authority is weak as hell.

Sheesh.

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A nobel prize in economics kind of surpasses a Masters, so by your own criteria, Krugman is now the stopgap.

This is why appeal to authority is a fallacy.

Krugman can be a real hack when he goes partisan.

From your link.

A major reason of the real estate bubble, the paper said, was that there was irrational exuberance among the consumers. Although real estate prices were already at their historical highs, people refused to believe that prices could fall significantly. This led to continued demand for property, further inflating the bubble. And when the nasty price shocks came, most people were taken by a surprise. At the same time, there was too much cheap money in the system. The interest rates were low, and the Chinese were practically funding U.S. consumer demand by buying treasury bonds.

So Krugman agrees…it wasn’t regulation, or the lack thereof. Like i said.