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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: RealMuLan who wrote (70659)10/29/2007 10:05:36 PM
From: RealMuLan  Read Replies (1) of 116555
 
Three-Ingredient Recipe for Recession
October 25, 2007; Page A2
By DAVID WESSEL
online.wsj.com
When we look back next year at this time, it will be clear what caused the recession of 2007-08.

It was basically a triple whammy: Housing prices kept falling, oil prices kept rising and both lenders and borrowers grew more cautious after five years of incaution. The combination was simply too much even for the impressively resilient U.S. economy. The Federal Reserve saw it coming, but couldn't move swiftly enough. Still, Fed Chairman Ben Bernanke's interest-rate cuts helped keep the recession as short and mild as those of 1990-91 and 2001.

There are three rules to keep in mind when reading a recession prediction.
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