Partying Like It's 1929

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I took a lot of Economics both as an undergraduate at UTEP and in Graduate School from Ball State University. It is important that intelligent, well educated people understand what works and what doesn't in the national economy.
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Paul Krugman has written a short article for the New York Times which does a good job of describing how the economy got in the current mess. Krugman is an American economist, columnist, author, and intellectual. He is professor of economics and international affairs at Princeton University, and is also a columnist for The New York Times, writing a twice-weekly op-ed for the newspaper.
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He argues very effectively that the stock market crash of 1929 wasn't the primary cause of the Great Depression, rather it was the run on the banks in 1930 and 1931. He says that "We chose to forget what happened in the 1930s — and having refused to learn from history, we’re repeating it."
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And that the problems in the American economy today are largely due to politicians allowing bankers and other top financiers to get out from under any form of regulation by governmental authorities. He doesn't say this, but the politicians he is talking about largely are the same type of greed driven free market types who believed in the mythical new economy (read Republicans).
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--------------------- De-Regulation is the problem, not the solution.
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His article in the New York Times is very well written. I highly recommend it. It won't take you five minutes to read this. http://www.nytimes.com/2008/03/21/opinion/21krugman.html?em&ex=1206417600&en=4f9f34d7a7f3fb32&ei=5087%0A
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In the highly respected German Magazine Der Spiegel Paul Krugman spells it out even more clearly. He goes into specificis about why McCain's economic policies would be bad for the economy, and how the Clintons were participants in getting us to where we are now.
http://www.spiegel.de/international/0,1518,543074,00.html
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