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Politics : PRESIDENT GEORGE W. BUSH
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To: DavesM who wrote (693138)7/21/2005 10:37:16 AM
From: DuckTapeSunroof  Read Replies (1) of 769670
 
Ah... By that measure I think most people would agree that the recession in Japan (a decade plus in length) was the more serious.

But then, many would also argue that our Fed --- by stoking up the money supply so much --- merely *extended* the period of time that will be required for our economy to mop up the excess, *transfering* the 'tech bubble' excesses to other areas such as the 'housing bubble'... and that we haven't truly finished with the correction yet.

So, the answer to 'what was the bigger' financial bust may not be known for a long while.
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