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Biotech / Medical : 2012 Biotech Charity Contest
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To: Steve Lokness who wrote (265)6/25/2012 11:52:14 AM
From: Chris08   of 513
 
Prefer not to get into an ongoing argument, but how can you say that we have no idea what would have happened had we gotten more stimulus? China had more stimulus than we did and it weathered the crisis better. WWII provided much more stimulus than did FDR' New Deal and that brought the US out of the depression very well indeed. That spending stimulates the economy may be "simplistic", but it is also true. The housing bubble came mainly from reckless lending by banks that were scarcely regulated at all since they were permitted to get into investment banking with depositors' money. I find it quite bizarre to blame the wars and the housing bubble on Keynes, but think what you will. I won't respond again since, as I said, I don't like to get into ongoing arguments here where they don't belong.

nytimes.com
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