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Not a “Typical” Recession

Oct 22, 2008 | 1 comment

If you read a newspaper, blog or switch on the TV for just a moment, it is impossible to avoid terms like Financial Crisis, Bail-Out and Foreclosures. The last chart I saw depicting Wall Street activity more closely resembled a spirograph I made in second grade than a financial reporting tool.

As a self-proclaimed cautious optimist, I was happy to come across an article on Forbes.com today written by Brian S. Wesbury, chief economist and Robert Stein, senior economist at First Trust Advisors in Lisle, IL.

While they compare their brighter predictions for the economy to “Conventional” wisdom, they provide a compelling argument that lays the blame for our current woes squarely on the credit crunch and predict a soon-to-come healthy period of economic growth.

http://www.forbes.com/2008/10/20/money-recession-recovery-oped-cx_bw_rs_1021wesburystein.html?partner=daily_newsletter

http://en.wikipedia.org/wiki/Spirograph

Posted By: Sharon Michnay

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  1. Payday Loan Advocate said,

    October 25th, 2008 at 05:39 AM

    Severe housing slump and a painful credit crunch are affecting the behavior of individuals and businesses alike – causing the economy in the United States of America to grow in a very slow pace. Is America better off in 2008 than in 1932? It depends who you ask. In 1932, Franklin Delano Roosevelt was elected president, and took over during a time when the economy was nose diving into a recession. FDR introduced his “New Deal,” which drastically changed the government’s approach towards the U.S. economy. The government’s new role in the economy was much more involved than it had been previous to FDR. Roosevelt's “deal” revitalized the economy in the short run, but some argue the negative repercussions can still be felt today. In this Wall Street Journal article, Paul Rubin writes that although the present U.S. economy is not identical to the economy of 1932, there are many parallels: the stock market is faltering, credit markets are locking down, and a popular Democratic presidential candidate – Barack Obama – is advocating for increased government regulations in the economy. If Obama becomes president and the Senate is controlled by democrats, our country will face the most liberal agenda in its history. Free market economists are concerned with Obama’s “hands-on” policies and fear they steer the American economy off-course in the long run. Proponents of capitalism will disagree that we’re better off today than in 1932. On the contrary, they would most likely tell you that America is in for more of the same – a “New, New Deal.” Post Courtesy of Personal Money Store Professional Blogging Team Feed Back: 1-866-641-3406 Home: http://personalmoneystore.com/NoFaxPaydayLoans.html Blog: http://personalmoneystore.com/moneyblog/

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