Corporate Hoarding and the Slow Recovery by Krugman

Fed Worried about Bubbles, Not Inflation by Thoma

I'm currently reading Alan Blinder's "After the Music Stopped" and it struck me again how the Fed was facing deflation in 2003. And yet a short time later we had an epic housing bubble. He credits Dean Baker with the first written call of the bubble, but it seems to me that he disagrees with Baker in that Blinder argues that housing is only 4 percent of GDP.