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Why is the economy in shambles?

Megan McArdle tells you why the economy is NOT in shambles. Below are the headlines, click through the link to hear why…

Item One: The Iraq War did not cause this problem
Item Two: The Bush tax cuts also did not cause this
Item Three: Being on the gold standard would also not have prevented this mess
Item Four: Among the many other things that did not cause the current crisis was the repeal of Glass-Steagall
Item Five: The collapse of Bretton Woods–also not a cause of the current crisis!
Item Six: The long twilight of American economic might is not yet upon us


Filed under: Misc

4 Responses

  1. Cyrus says:

    i thought i saw steven seagal…

    wtf is glass steaglasz

    van damme > seagal

  2. Andrew Cheesman says:

    what?? van damme is a european pussy. seagal will ruin his ass any day.

  3. Pete says:

    I think megan is trying a little to hard to discredit “cranks” and consequently taking away from the contributions many of these things have made to the crisis. While i am inclined to agree with here regarding commodity currencies, i think he assessment of the Iraq war helping stabilize financial markets is ludicrous.

  4. Lia says:

    Pete, you and Megan are on a first name basis?

    Ps. I think these responses may be the winners in the “least relevant or thoughtful comments on the blog to date” category.

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