Krugman economic model an abject failure for many countries

NY Times:

Trillions Spent, but Financial Crises Like Greece’s Persist


Beyond Greece and Puerto Rico, heavy borrowing is also bogging down the globally significant economies of Brazil, Turkey, Italy and China.
Paul Krugman who writes a column for the NY Times has been a proponent of deficit spending and has urged the same disastrous course on the US.   He has opposed all attempts to reign in spending by Congress.  What these governments are exposing is the failure of liberalism.

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