TW: Believe it or not our Congressmen and women actually receive training upon their initial election to Congress. Recently they had an econ seminar, where amongst other things, economist Jeff Frankel attempted to explain how we got into our current economic mess. He used the above slide, which at first glance appears highly confusing, but upon review actually does a pretty good job of boiling the various bubbles and crises into one big stinking pile of mess, that he generously describes as the "recession". Spend some time with it (you can click on the slide to enlarge).Thursday, December 18, 2008
The Economic Mess Explained On One Slide
TW: Believe it or not our Congressmen and women actually receive training upon their initial election to Congress. Recently they had an econ seminar, where amongst other things, economist Jeff Frankel attempted to explain how we got into our current economic mess. He used the above slide, which at first glance appears highly confusing, but upon review actually does a pretty good job of boiling the various bubbles and crises into one big stinking pile of mess, that he generously describes as the "recession". Spend some time with it (you can click on the slide to enlarge).
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