No, your criticism is worthless. Insofar as you are correct in pointing out where I am correct, I give you some credit. But you fail to appreciate the full scope of my correctness and thus miss the whole point.

1. Consider: who would actually be so buffoonish as to call for the creation of a financial bubble at the peak moment before said bubble was about to burst - particularly when the bubble had reached an historical scale. Krugman is silly, but not that silly.

2. As it turns out, he was calling for the bubble at that crucial moment in history which we now recognize as the actual creation of the bubble. http://upload.wikimedia.org/wikipedia/en/c/c1/Median_and_Ave...

Let me spell it out for you: he got what he asked for, when he asked for it.

3. Given that he called for the creation of a bubble, I am willing to assume that perhaps he didn't mean for it to get so over-inflated. But that puts the burden on you to find an article circa 2004 for him saying: stop, I meant only inflate it a little ...

Of course he did not call for the creation of the bubble just before it popped. In fact, it is much worse: he called for the inflation of the bubble just as it was getting started.

We all know how that ended ...