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I've had the subversive , or maybe utopian , thought

that if the Tarp hadn't saved the banks there'd be nobody to send out the eviction notices. Everyone could just remain in their homes. And now they were no longer under water it would be worth spending  money fixing them up which would generate employment for the companies making cleaning supplies and appliances. Putting people back to work.

And we'd finally redistribute  wealth back to 1952 levels.

We had greatness thrust upon us.....And we ducked.

There no mo no mo

Nate Silver denies that there's any such thing as "momentum" that can be established by comparing successive polls.

If Charlie Candidate is up 5% in June and again in July that doesn't mean he's probably going to be up in Aug

We get so soon old and so late smart

Martin Wolf in today's FT

 

Who can now confidently state that reliance on a policy which worked by financing overpriced housing was better than using surplus savings for higher public investment? Similarly, who can confidently  state that it must be be better to rely on relaunching a private credit boom than on higher public investment.

 

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