The Alabama Moderate

Painting the Red State Purple.

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The Recession of 1987 Predicted in 1983…

Posted by ALmod on January 13, 2008

And guess who…

Wow!  That speech sounds awfully familiar…  Oh, that’s right!  He’s still giving it in the Republican debates!  Ladies and gentlemen, meet Ron Paul.  This is the guy who can fix our economy.  I’ll be voting for him this year.  Will you?

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One Response to “The Recession of 1987 Predicted in 1983…”

  1. Lee P said

    AlMod,

    There was no “Recession of 1987,” at least not in the United States. At that time, the U.S. economy was still in the midst what was then the longest peacetime expansion in American history.

    There was a U.S. stock market collapse in October of 1987, but it did not lead the economy into recession and the Dow had recovered completely within two years. It’s important to note that some countries did experience a recession in ’87, but not the United States. The Reagan expansion that began in 1982 did not end until the recession of 1990-1991, which had the distinction of being one of the mildest ever.

    Ron Paul has a lot of interesting (and I’d say mostly correct) views about economics, but his idea that returning to the Gold Standard would result in greater monetary stability is dubious at best. In fact, there’s a great deal of evidence suggesting that a Gold Standard would produce greater monetary instability than exists currently, and that it would result in more frequent, more severe, and more unpredictable recessions/depressions.

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