DIGG THIS Paul Krugman calls for Obama and his advisors to push an expanded version of the New Deal (see the link below by Mark R. Hatlie). According to Krugman, they should boldly throw caution to the winds and “figure out how much help they think the economy needs, than add 50 percent. It’s much better in a depressed economy, to err on the side of too much stimulus.” Obama should reject this advice. If he listens to Krugman, the likely result will be a wave of stagflation that makes the experience of the 1970s look mild by comparison. Such … Continue reading Krugman’s Prescription for Disaster