5 ms·
It was recently argued that the initial assessment of the severity of the downturn was wildly off (by 4% of GDP), and that led to poor strategy formulation by W
by sesqu 15y ago
It was recently argued that the initial assessment of the severity of the downturn was wildly off (by 4% of GDP), and that led to poor strategy formulation by Washington.
- watchandwait 15y agoThere's no strategy in Washington. Indeed, policy chaos caused by sweeping changes (both proposed and enacted) in health care, energy, financial, tax, and union rules have wrecked private business planning. America is being run like a banana republic, borrowing over 40% of its spending budget, randomly intervening in industries like auto, banking, and housing to reward political allies, and operating on a week-to-week horizon.