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Talk:Financial Crisis of 2008 (view source)
Revision as of 17:58, December 2, 2008
, 17:58, December 2, 2008→Separate article needed on recession
::Am I brilliant and innovative thinker, or have I just rediscovered what economists have known for many decades now? --[[User:Ed Poor|Ed Poor]] <sup>[[User talk:Ed Poor|Talk]]</sup> 12:50, 2 December 2008 (EST)
::Am I brilliant and innovative thinker, or have I just rediscovered what economists have known for many decades now? --[[User:Ed Poor|Ed Poor]] <sup>[[User talk:Ed Poor|Talk]]</sup> 12:50, 2 December 2008 (EST)
:::Ours goes even a little deeper Ed. Because an economy needs spending to grow and to continue, cutting back on spending leads to negative growth and a recession. Since about 2/3rds of spending is at the consumer level, the economic condition is very much dependent upon perception -- and therefore to press manipulation. So if the press keeps telling people we are in a recession, and people start to believe it and cut back their spending, then we will go into a recession. It's a self-fulfilling prophecy. If you see my first comment at the top of the page, the slightly negative economic growth that we sustained in the last quarter would have actually been almost 2% growth if consumer spending had just stayed constant. But people were spooked and therefore took what would have been slow positive growth and turned it into a negative. [[User:Learn together|Learn together]] 12:58, 2 December 2008 (EST)