Saturday, September 3, 2022

Fast and Furios Business Cycle

I am borrowing Dr. Ed's Blog posting in light of the recent inflation hike. Below is a short excerpt:

"...That’s all great until it isn’t—because, as we all know, booms are followed by bananas. Economist Alfred Kahn, an economic adviser to former President Jimmy Carter, warned lawmakers in the ’70s that if they didn’t get inflation under control, the nation was heading for a recession or a depression. To avoid scaring the public during his testimony at the Capitol, instead of saying “recession” or “depression,” he simply said “banana.”









Source: Internet. 

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