Thanks. Based on that, I don't think so. No election is coming up. The reason 2008 was so bad, was because Obama jawboned everyone that it was so bad, in order to scare the shit out of everyone enough to win an election. If he hadn't, it would have been like the dot com bubble bursting. Bad, but very short term.
I said long term recession, caused by a single financial panic.
2001 was a short recession as the bad money from the dot.com boom went bust. No bailouts. Economy came back for 8 years during the Bush years at a so-so level.
1980s? What, there was a short sharp recession in 1981 when the Fed raised the interest rate to end stagflation. Other than that, the 1980s were one of the the longest and highest periods of GDP growth in American history.
1929 - yea, that's the one data point. But never mind the Hawley Smoot tarriff being raised in the middle of it all, and the Depression had a rolling start. It took about a year for things to settle in as a Depression.
1971 - I was unaware there was a recession in 1971. It appears from what I read, to have been a mild one that started in Europe and lasted a couple years.
2008 - like I said, happened in the middle of a presidential campaign, and Obama jawboned everyone into being scared as shit for the votes.
During the 1980s Chrysler went bankrupt and it wasn't a panic. During the 90s Mexico defaulted and lost tons of American money and it was a panic but there wasn't a recession. Same when Argentinia defaulted. There were myriad financial panics throughout history. The Mississippi Stock Company, the Tulip Bulb Mania, various gold crises, railroad stocks going bust, etc etc. Not all led to depressions or long term recessions.
Dude thinks he watches a Hollywood history movie and now he's a MF macro economist. I stayed at a Holiday Inn Express last night myself.
About 2008: The story Hollywood doesn't tell you, is that Obama turned what could have been a single bank bailout, or nothing, letting the bad money wash out of the system, into a panic in order to win an election. He scared the shit out of everyone on purpose. As soon as he's in office, he's all "It's the summer of recovery" and goes hardcore Keynesian, but the animal spirits were in play by that point. The Great Recession ensues.
Thanks. Based on that, I don't think so. No election is coming up. The reason 2008 was so bad, was because Obama jawboned everyone that it was so bad, in order to scare the shit out of everyone enough to win an election. If he hadn't, it would have been like the dot com bubble bursting. Bad, but very short term.
breh.... do us all a favor and watch the "big short."
report back to this thread... apologize profusely, and restate your opinion.
breh....you got one data point and I got another. Let's go back in time and see how many financial panics lead to long term recessions on depressions.
1929
1971
1980's
2001 dot-com debacle
2008
oh.... fuckn tulips like centuries ago.
what am i missing?
I said long term recession, caused by a single financial panic.
2001 was a short recession as the bad money from the dot.com boom went bust. No bailouts. Economy came back for 8 years during the Bush years at a so-so level.
1980s? What, there was a short sharp recession in 1981 when the Fed raised the interest rate to end stagflation. Other than that, the 1980s were one of the the longest and highest periods of GDP growth in American history.
1929 - yea, that's the one data point. But never mind the Hawley Smoot tarriff being raised in the middle of it all, and the Depression had a rolling start. It took about a year for things to settle in as a Depression.
1971 - I was unaware there was a recession in 1971. It appears from what I read, to have been a mild one that started in Europe and lasted a couple years.
2008 - like I said, happened in the middle of a presidential campaign, and Obama jawboned everyone into being scared as shit for the votes.
During the 1980s Chrysler went bankrupt and it wasn't a panic. During the 90s Mexico defaulted and lost tons of American money and it was a panic but there wasn't a recession. Same when Argentinia defaulted. There were myriad financial panics throughout history. The Mississippi Stock Company, the Tulip Bulb Mania, various gold crises, railroad stocks going bust, etc etc. Not all led to depressions or long term recessions.
Dude thinks he watches a Hollywood history movie and now he's a MF macro economist. I stayed at a Holiday Inn Express last night myself.
About 2008: The story Hollywood doesn't tell you, is that Obama turned what could have been a single bank bailout, or nothing, letting the bad money wash out of the system, into a panic in order to win an election. He scared the shit out of everyone on purpose. As soon as he's in office, he's all "It's the summer of recovery" and goes hardcore Keynesian, but the animal spirits were in play by that point. The Great Recession ensues.