Old insight into the early 2008 economic situation, the housing issue, the pending election, and the real state of the economy...
"It is hard to imagine any time in history when such rampant pessimism about the economy has existed with so little evidence of serious trouble..."
"With housing so weak, the recent softness in production and durable goods orders is understandable. But housing is now a small share of GDP (4.5%)."
"Pumping massive amounts of liquidity into the economy and pumping up government spending by giving money away through rebates may create more problems than it helps to solve."
"The good news is that the U.S. financial system is not as fragile as many pundits suggest. Nor is the economy showing anything other than normal signs of stress. "
For the whole story: The Economy Is [WAS] Fine (Really)
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