I'm taking a wait and see approach. Afterall... economists got us in this... and none of them saw it coming even though a giant recession coming eventually was obvious.
As for Krugmen. Well... he's one the Nobel Prize but he's also one of the most partisian economists out there prone to cherry picking and doing just about anything to prove his "side" right.
http://en.wikipedia.org/wiki/Paul_Krugman#Criticism








