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A Very Large Invisible College Indeed: Analogies to teh Great Depression

Posted on September 28, 2008

So I surf to Mark Thoma's website physically located 400 miles north of my office in order to find the smart things being written eight feet to my north, on the other side of my office wall. Barry Eichengreen: From Wall Street to Main Street: Lessons from the Great Depression: A couple of months ago at lunch with a respected Fed watcher, I asked, What are the odds are that US unemployment will reach 10% before the crisis is over? Zero, he responded, in an admirable display of confidence. Watchers tending to internalise the outlook of the watched, I took this as reflecting opinion...

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bernanke , budget , central bank , deflation , economy , fed , housing , inflation , money supply , tax , the fed , treasuries