Paulsen weighs in on AGW, "CC"" and the supposed efficacy of government intervention
1.) This is amusing-- for a number of reasons-- to see Hank Paulsen on the side of AGW, "CC", and govt intervention as a solution to whatever problems we might have in this realm. Skeptics have to be happy with this development!
2.) This is a potentially provocative metaphor-- the applicability of which depends on which side is correct.
a.) markets can generate relatively small bubbles;
b.) govt intervention is required to generate much larger bubbles;
c.) bubbles eventually self-correct through market activity;
d.) govt policy to deal with bubbles often causes even more trouble (as with the 2007 recession and following "recovery")