Ace of Spades HQ: "Just thought of something relevant to that 1930s crack I made above. This country has had a lot of practice dealing with the bust part (recession) of the boom and bust cycle since the Great Depression. The interventionist way we've dealt with them may not have been ideal - it may not have been even good! - but it wasn't bad enough to wreck the country. Maybe we don't grow at +5% annual GDP but, overall, the economic performance of the US is one of the wonders of the world.
Now this professor cons his way into the White House and we're hanging on by our fingernails! What would have been a larger-than-average-but-not-unprecdented financial panic has, thanks to President Obama, morphed into the Great Recession with the best plausible outcome (barring the right person winning in 2012) a decade or two of stagflation."
Posts
Open Thread
1 hour ago
