|
|
Enron Mail |
Over the past few weeks we have struggled to find an appropriate parallel to the economic situation in the aftermath of September 11. In a recent paper we argued that the appropriate parallel for the post 9/11 was the Gulf War. In both cases the incident punctuated what we already knew: that the economy was in recession. We also pointed out some interesting similarities. In both cases, Alan Greenspan was chairman of the Fed and George Bush was president. However, there are some major differences this time. The George Bush in the White House now is proposing to lower tax rates. For that reason we believe that the recovery is going to be stronger than that of the previous recession. More on this subject anon. LJE www.lajollaeconomics.com La Jolla Economics 7608 La Jolla Blvd., La Jolla, CA 92037-4702 Telephone (858) 456-4567 Facsimile (858) 456-4524
|