The slump in the United States and other advanced economies is the result of a failure of demand — period, end of story.
There ya go. That putz, Krugman has solved everything. He said end of story didn't he? Could there be more?
How about a business environment of crony capitalism and no rule of law? Might that also have something to do with it? How about a president that calls employers evil for not doing their fair share and wants to rob them of the means of creating jobs? How about idiots like Obama and Krugman that think magic money comes from wishing and unicorns farts rather than hard working taxpayers?
So Krugman, STFU.