Day: January 27, 2008

  • Was There a Better Time for a Recession?

    Put yourself in Ben Bernanke’s shoes. Assume that a recession was inevitable. When was the right time to take it? At seventy-two months, the current expansion is already longer than any of the thirty years before Volcker, except for the inflationary nine-year Vietnam boom. Meanwhile, the problems awaiting the next president are simply enormous, whoever…