Paul Krugman: A Whiff of Stagflation (April 2005): “Suppose that the housing bubble bursts… [that] could easily turn our mild case of stagflation into something much more serious…. …How do we get out of this bind? As the old joke goes, I wouldn’t start from here. We should have spent the years of cheap oil … Continue reading Lunchtime Must-Read: Paul Krugman (2005): A Whiff of Stagflation