Krugman’s insanity on forced lending begs the questions of forced
lending to whom and for what?
Even if the banks are forced to lend, what if nobody wants to borrow?
Are potential borrowers going to be forced to borrow? Who are those
borrowers supposed to be, and for what are they going to borrow from
the banks to purchase? Will there be a random generation of forced
borrowing? Will people in high tax brackets be forced to borrow? Or
will there be a progressive form of forced borrowing, where each
bracket has to borrow based on a factor of their annual income? Does
Krugman want people to borrow to buy homes, GM cars, or ant farms?
Krugman may be able give a whole new meaning to the term, debtor’s prison.
9:26 am on October 27, 2008
