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The Market’s Echo Chamber

 
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  • Posted By: tc125231 @ 02/09/2008 4:32:30 PM

    Comment: The following paper analyzes the current U.S. financial crisis, comparing it to other recent crisises in advanced economies.

    http://www.economics.harvard.edu/faculty/rogoff/files/Is_The_US_Subprime_Crisis_So_Different.pdf

    It identifies a number of factors that I don't remember Mr. Samuelson discussing, despite his incessant moralizing.


  • Posted By: dunno much @ 01/30/2008 8:20:55 PM

    Comment: Robert Samuelson is resorting to scary movies of inflation during the 1960s and the 1970s to argue that somehow the Fed should desist from any monetary stimulus. 6 months is not a small time, and bad market sentiment for 6 months can easily spiral downwards into a long-lasting recession. As John Maynard Keynes said back in the 1930s - " In the long run, we are all dead ". Inflation has been below 5% throughout the Bush years, and there is no need for alarm on that front. If we fall victim to Samuelson's scare-mongering about inflation, we may well let the economy slide into recession when a few timely monetary kicks are just what the doctor has ordered, as opposed to quacks like Samuelson.

  • Posted By: dunno much @ 01/30/2008 8:04:57 PM

    Comment: Robert Samuelson is resorting to scary movies of recession during the the 1960s and the 1970s to argue that somehow the Fed should desist from any monetary stimulus. 6 months is not a small time, and bad market sentiment for 6 months can easily spiral downwards into a long-lasting recession. As John Maynard Keynes said back in the 1930s - " In the long run, we are all dead ". Inflation has been below 5% throughout the Bush years, and there is no need for alarm on that front. If we fall victim to Samuelson's scare-mongering about inflation, we may well let the economy slide into recession when a few timely monetary kicks are just what the doctor has ordered, as opposed to quacks like Samuelson.

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