Property bubble is positioned to Pop, columnist claims.PAUL Krugman Paul Robin Krugman (born February 28, 1953) is an American economist. Krugman, a liberal, is currently a professor of economics and international affairs at Princeton University. , the Princeton economist d Op-Ed columnist for The New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Times, told a packed auditorium at Santa Monica College Santa Monica College was first opened in 1929 as Santa Monica Junior College. Current enrollment is 32,000 students in more than 90 fields of study. The college also has one of the largest international student populations of any community college in the US, with approximately last week that the U.S. housing bubble is ready to burst and likely to coincide with a decline of the dollar. Krugman, who accurately predicted South East Asia's 1997 currency crisis, said the problem with predicting a housing bubble is that it can take years for problems to reverberate re·ver·ber·ate v. re·ver·ber·at·ed, re·ver·ber·at·ing, re·ver·ber·ates v.intr. 1. To resound in a succession of echoes; reecho. 2. through the economy. Still, he sees trouble on the horizon because 40 percent of new jobs created in the past few years have been housing-related (most economists see a softer real estate market next year but not a hard landing). "People make a living by selling each other's houses and paying for the houses with money borrowed from the Chinese government," said Krugman. "We are out of balance as an economy right now." |
|
||||||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion