All economists agree: A sharp economic downturn usually produces a very brisk economic upturn. It’s only a demagogic ploy for an American president to blame his predecessor for any economic recession he may have “inherited”, yet cannot handle.
The worse an inherited downturn may have been, the better it makes a new president look, as the inevitable, impressive rebound occurs. All without government change and budget-busting stimuli.
However, bumbling, fumbling and meddling administrations can create a deeper recession out of what should have been a normal, quick recovery.
They instead can seek a convenient, political scapegoat. Certainly it’s not a classy effort, and it’s plain dumb.
The financial and general media who should know better and who has economic facts on hand permits this to happen. ( See the Earl J Weinreb NewsHole® comments.)
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