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As Paul Krugman Says, the Stock Market Is Not the Big Problem
Posted on October 09, 2008
The flow of finance to expanding companies--or, rather, the not-flow of finance to companies that ought to be expanding employment--is the problem.Paul: Dow 9,000!: Stock prices are, however, the least of our worries. The money markets are frozen; the TED spread is 4.14%. G7 meeting tomorrow, IMF-World Bank over the weekend. Now is the time for major action an announcement of coordinated capital injections, liquidity measures, and more. If we ve had nothing except vague assurances by Monday...Let me repost this:The Wrong Financial CrisisJ. Bradford DeLong Professor of Economics, U.C. Be...
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