Yesterday was one of the few times my wife engaged me on politics and economics. (If anything, she usually chastises me for being too interested). She plainly asked me what’s going on and what it means for us. She asked if I thought it would be like the Great Depression, with people out of work, waiting in line at soup kitchens. I reflexively answered yes, and then spelled out my rationale.
After having the time to reflect on the question, my answers, the bailout, and the landscape as I see it, I can now say that I may have been wrong.
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