“If America’s economic landscape seems suddenly alien and hostile to many citizens, there is good reason: they have never seen anything like it. Nothing in memory has prepared consumers for such turbulent, epochal change, the sort of upheaval that happens once in 50 years…The current slump already ranks as the longest period of sustained weakness [...]
By Carl on 06.08.09 > Link
Setting Things Right> “Economists, proud and powerful in the 1960s, now look like Napoleon’s generals decamping from Moscow. Their past prescriptions —tax tinkering and Government deficit spending to prop up demand, wage and price guidelines to hold down inflation—have been as helpful as snake oil. “Things just do not work now as they used to,” [...]
By Carl on 02.16.09 > Link