Louis Proyect wrote: > The reason I felt > that > the > plunging stock market prices > were > interesting > is because > it demonstrates that presidents in > general have > little power over > the > business > cycle. Maybe I should have > spelled that out.
This is correct. The content, not the format. In general. In this particular case though, fiscal policy can make a difference. And that's within the powers of a president with majority in both houses and huge popular support to achieve. Re. the drop in the stock market -- that's great. (Unfortunately, today Obama did inspire the markets!) The cheaper the banks, the lesser the objections to full fledge nationalization. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
