Forum (Forum & Focus)
Feb. 12, 2009
A Downward Spiral
The current recession is not an ordinary business cycle downturn, but rather part of a major structural realignment, writes Theodore P. Seto. - Forum Column
FORUM COLUMN
By Theodore P. Seto It is impossible to understand the mess we're in today (or to develop plausible ways of cleaning up that mess) without taking into account the quarter century of U.S. tax and economic policies that got us here. Until 1984, the total amount of credit in the American economy - government, business and consumer - was largely self-regulated. If the government borrowed too much, interest rates rose. Businesses a...For only $95 a month (the price of 2 article purchases)
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