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« ETF Update: Continuing Caution | Main | Weighing the Week Ahead: Focus on Jobs »

March 24, 2010

Comments

oldprof

Mike C -- Sorry to be so slow in responding to these questions. I was waiting for the Kauffman link to be available.

You mention "one plausible view" and wonder what the other might be. Basically, there is not one other view, but many. There are many serious people exploring the question. I am reading and reviewing the books. Eventually, I'll have write a few pieces.

At the moment, I merely suggest that most of what the non-economist econ bloggers cite as THE CAUSE is what you and I might call a necessary but not sufficient condition.

For starters, not everyone would agree with your assumption of a multi-decade credit bubble. I got the idea from the keynote speech, which you can see here:

http://video.kauffman.org/services/player/bcpid40280745001?bctid=73898423001

I hope you will enjoy David Warsh's presentation as much as I did. I think you will.

Jeff

Mike C

Those looking for an explanation to the economic collapse v. those who have made up their minds

Jeff, unless I missed it, I don't recall you specifically addressing this in a blog post, and I am always interested in different views.

I think one view of the economic collapse is that it was the result of the bursting of a 20-25 year private credit/debt bubble, and the current plan appears to be to substitute public/government debt for the contraction in private debt which at some point (maybe way, way down the road) will also burst.

What is the other plausible view here?

People who see value in blogs when MSM "drills down" v. those who see information and analysis as "bubbling up."

I'm not following this point. What does this mean?


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