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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: Cynic 2005 who wrote (9491)10/26/1998 9:30:00 PM
From: Joseph G.  Read Replies (2) of 86076
 
The Kudlow guy is stupid, as could be expected from economist. He argues for never again recession, but garbage, fraud and fatigue accumulate in the system, and the point is exactly that the system needs recession once in a while to recuperate. It's like a person who tries not to sleep at night, and perhaps uses drugs to stay awake - experience teaches that it is best to sleep every night, once a day, than not to sleep for three days, and then just crash ...

In the old days there were recessions every three or four years, which is a natural business cycle. More recently miopic politicians and their instrument, the Fed, tried to run a seven to eight year cycles - which resulted in more stress in the system. Now they got totally deranged and try to cancel recessions for ever. But it just will be worse when it comes (already came in most countries).
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