Richard Koo says the WH understood the U.S. balance sheet recession, but preferred Paul Krugman's easy money cure instead of more spending. Nearly one year on, all QEII has done is shift money out of Treasurys and into stocks, with higher commodities hampering economic activity. Thanks for the inside baseball account, but when has Krugman ever shied from more government spending?
Richard Koo says the WH understood the U.S. balance sheet recession, but preferred Paul...
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