[frognibble]

The Krugman detractors seem to be of the opinion that Krugman is clueless, not that he advocated a recession or cheered on the disaster.

In this article, Krugman says that consumers need to spend more and that a housing bubble is one way to increase consumer spending. Perhaps he was not advocating a housing bubble, but he clearly didn't see a housing bubble as the terrible thing that it turned out to be. If he thought the policy was bad, he wouldn't have offered it as a solution.

[lzw]

Specifically, he does not understand monetary economics on a fundamental level. He could be called a Keynsian, but this would be an insult to Mr. Keynes. (Who only advocated inflation as a short term measure, not as a way of life, and who warned against the results if it were not reversed.)

So, in short, both John Maynard Keynes, and the Austrian School of Economics would say Krugman is clueless about monetary policy.

I think he is not actually clueless. He is a silver tongued liar employed by the government to spread misinformation and make those who think that they are well educated buy into nonsense so that they support unlimited government spending.