Word: depressionitis
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The advocates for nationalizing U.S. banks have been out in force recently. Senator Lindsay Graham, who almost certainly does not have a PhD in economics or finance told ABC News that banks were in such deep trouble that government ownership of the institutions may be the only way to save...
Incidents such as this one are especially frightening given the current economic climate. Millions of people across the country and around the world already fear for their job security, and, as the university tightens its budget, Harvard employees are no exception. Although fear of unemployment is in many ways inevitable...
For Obama’s aides, the nightmare is a depression like the one that struck Japan in the 1990s, and a slow government response is the bogeyman. Geithner and National Economic Council Chairman Larry Summers were Clinton officials when a real-estate bubble in Japan burst, dragging the country...
Obama isn’t the first to decorate his Cabinet with narrow-minded academics. In 1933, Franklin D. Roosevelt appointed several professors to his administration, including the University of Chicago’s Paul Douglas and Columbia’s Rexford Tugwell. Like Obama’s aides, these...
Nearby is the Abraham Lincoln Presidential Library and Museum, a modern, multi-media complex that houses one of the best collections of Lincoln materials in the world. As Illinois State Historian Thomas Schwartz explained to me recently, Springfield had the good fortune to have a Lincoln buff serving as governor...