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Goldenboy219;1059778152]To someone who has a poor understanding of the political economy, believing the 81-82 recession was the worst recession since the great depression is quite common.
It was great paying 17.5% for a home mortgage, seeing keys thrown at the banks because of those interest rates, 10.8% unemployment which impacted consumer spending
Incorrect again! The difference between the two is we are in a liquidity trap. Volker induced the early 80's recession as a means of quelling inflation expectations. They are completely different and stem from separate aspects of market failure.
Keep studying it and spouting intellectual rhetoric which makes you way too smart to understand something so simple like the four components of GDP and the impact of each on the economy. I don't expect people like you to understand human behavior because you never have dealt with it. You have apparentlly never hired anyone and obviously live in your intellectual elite bubble.
Look, i get it that you despise the Obama administration. The majority of your posts are venomous rants about "Obama this" and "Obama that". Until you understand the severity of our current situation, you will find great difficulty putting forth a credible argument. :shrug:
I dispise the liberal rhetoric that never leads to positive economic results. Obama is a very nice man but incompetent. The majority of my posts confuse you by posting logic, common sense, and actual data. I would have thought someone with your superior intellect would understand the data better than you do. Whether I put together a credible argument to your satisfaction is irrelevant to me as I won't lose any sleep over it. Go to the Harvard Faculty lounge and solve the problems of the world outside of reality.