Monday, May 18, 2009

A matter of perspective

Reported as fact:

"History shows the dangers of calling the end of economic downturns too soon.

President Franklin D. Roosevelt made this mistake in 1936 when, believing the Depression largely over, he sought to pare back public spending and to balance the federal budget. It torpedoed a fragile recovery and pushed the economy back under water in 1937.

Japanese leaders made a similar mistake in the 1990s when they prematurely — and temporarily — withdrew government stimulus spending, helping to prolong Japan's recession to one that lasted a full decade." - AP Article

This is not a fact. It's an opinion. One with which I disagree.

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