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How Fast Can an Economy Go From Good to Bad?
Filed under: — site admin @ 8:52 pm on 3/16/2005 .
The most recent GDP figures seem to echo what Fed Chairman Greenspan said in February in his semiannual Monetary Policy Report to the Congress. For brevity’s sake I’ll condense his opinion about the U.S. economy into three words: All is well.
I could offer a fact-filled and scathing rebuttal, but why be quarrelsome? Instead I’d like to answer this simple question: “How quickly can a very large industrial economy go from good to bad?” My case-in-point is recent indeed – up through the business news as of February 16, 2005. All the headlines and subheads come from BBC News reports. Please note the dates.
Read This Article by Robert Folsom
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