The concept of the business cycle and its un-natural intervention-inspired boom-bust process is at the core of the following three minutes of dueling quotes from two of the most infamous public proponents of change (Ron Paul) and the status quo (Paul Krugman).
- "Cut interest rates a couple of percentage points, provide plenty of liquidity, and call me in the morning." - Krugman
- "Printing money is not an answer... Like all artificially-created bubbles, the boom... cannot last forever." - Paul
You decide who "was" right, and who "will be" right again...
(h/t Jim Quinn's Burning Platform)
Of course, we've seen them head-to-head before...