birdwatcher (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
birdwatcher) wrote2008-11-03 10:48 am
birdwatcher) wrote2008-11-03 10:48 am
'Panic of 2008' Is Better Than the Alternative
Kevin Hassett -- "We should all pray that we are living through a panic. It is far scarier if markets aren't panicked, but rather are functioning well and properly discounting the probability that the economy will be horrific.
Why might markets be right? A look at the academic literature on the causes of the Great Depression suggests a simple answer: If Democrats actually adopt the policies they have advocated on the campaign trail, they will be repeating with eerie precision the mistakes made by both parties that gave us the Depression."
Why might markets be right? A look at the academic literature on the causes of the Great Depression suggests a simple answer: If Democrats actually adopt the policies they have advocated on the campaign trail, they will be repeating with eerie precision the mistakes made by both parties that gave us the Depression."