Comments on: Bear Market http://www.theartofthepossible.net/2008/03/18/bear-market/ Wed, 07 Jan 2009 13:12:03 +0000 http://wordpress.org/?v=2.5.1 By: kevin_carson http://www.theartofthepossible.net/2008/03/18/bear-market/#comment-370 kevin_carson Wed, 19 Mar 2008 00:18:04 +0000 http://www.theartofthepossible.net/2008/03/18/bear-market/#comment-370 As soon as Tabarrok familiarizes himself with the credit crunch, he should let Old Man Bush take him on a field trip to the supermarket to look at one of those newfangled cash registers with the bar code reader. Or get Monty Burns to introduce him to some of that "so-called 'iced cream.'" There's a whole world out there full of novel experiences. As you say, Greenspan caused this by blowing up the consumer credit and housing bubbles immediately after the tech one went bust. And his record-breaking irresponsibility has led directly to what he himself admitted will likely be the biggest crisis of the postwar period. As soon as Tabarrok familiarizes himself with the credit crunch, he should let Old Man Bush take him on a field trip to the supermarket to look at one of those newfangled cash registers with the bar code reader. Or get Monty Burns to introduce him to some of that “so-called ‘iced cream.’” There’s a whole world out there full of novel experiences.

As you say, Greenspan caused this by blowing up the consumer credit and housing bubbles immediately after the tech one went bust. And his record-breaking irresponsibility has led directly to what he himself admitted will likely be the biggest crisis of the postwar period.

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