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Politics : Formerly About Advanced Micro Devices
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To: zzpat who wrote (1048356)1/15/2018 12:24:55 PM
From: Broken_Clock  Read Replies (1) of 1578966
 
President Bush was faced with economic collapse at the end of his presidency - the Great Recession. The same recession President Obama inherited. I see now how you got the two recessions under Bush mixed up.


Apparently your admission of the truth has caused you some concern, seeing as how it leaves WJC as the culprit. The corrupt Krugman, worshipped by the Left, was there to sing the praises of the housing bubble that we have never recovered from

quote from Paul Krugman, published in a 2002 NYT column: The basic point is that the recession of 2001 wasn't a typical postwar slump, brought on when an inflation-fighting Fed raises interest rates and easily ended by a snapback in housing and consumer spending when the Fed brings rates back down again. This was a prewar-style recession, a morning after brought on by irrational exuberance.To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble.
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