Ironically, Bush, who of course said during his campaign (and after) that we were headed for a recession (when of course it was far from clear the slowdown would progress that far), is now saying "I have great faith in the resiliency of the economy".
God do I hate politicians. posted by mattpfeff at 2:46 PM on September 16, 2001
"God do I hate politicians."
I do too sometimes. posted by Katy Action at 2:55 PM on September 16, 2001
I think he overstates the equity markets meltdown. The recent crash is a reaction to the bubble. No bubble, no "crash". In fact, the S&P is still well ahead of the pre-bubble, late 1998 levels. This is not the case for the Great Depression, during which large-cap stocks fell 50% below their pre-bubble levels. posted by prodigal at 3:18 PM on September 16, 2001
Much the same is being said for the global economy, with significant losses in Europe during the last week: London down 6%, Paris 11% and Frankfurt 13%. posted by arc at 3:45 PM on September 16, 2001
So, ahh, can someone who knows about this stuff reassure me that we arent going to have a massive economic collapse in the near future? posted by Doug at 4:09 PM on September 16, 2001
God do I hate politicians.
posted by mattpfeff at 2:46 PM on September 16, 2001