Looking for Misky

The Case of the Missing Minsky Paul Krugman is looking for moments when we have a gray bar, Minsky moments. They happen to appear once per president. They result because Congress only makes on long term tax/spend decision per president. Note the exception, Reagan. He made a blunder4ous tax/spend decision and immeadiately caused a severe crash, then he made a correction. That allowed him to skip the 1988 Misnky moment. The eleder Bush made the one tax/spend decision and had his Minsky in 1992. Then we have the pattern continuing seince then.