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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (103256)	2/5/2009 4:56:34 PM
From: TimF	Read Replies (1) \| Respond to of 542528

We're not talking any old bubble Tim. In nominal or even real dollar terms the bubble is probably the biggest ever, but so is the economy supporting it. To the extent that its a bigger than normal bubble in relations to the size of the economy, that doesn't change my point. Even the strongest keynesians wouldn't argue that a liquidity trap is forever, they just think that we can recover much quicker with government stimulus (and that the negative side effects of the stimulus will not be enormous, or at least will be less than the pain faced without it). And the strong keynesian view is far from the only economic theory with any decent level of acceptance among economists.