Thursday, April 9, 2020

WILLEM H. BUITER does the 'This time is different'

By introducing a uniquely disruptive shock to both supply and demand, the COVID-19 pandemic has upended longstanding ideological debates almost overnight. Suddenly, far-reaching state intervention in the economy has become necessary to save market capitalism, which is unlikely to emerge unchanged.

Well, Bill, I can go back and see that you have used the time honored 'This time is different' during the last three recessions since 2001.

I am almost certain you will be dragging out the same old excuse in ten years.   I think the plan is to just retire you and every ten years we can just recycle your old 2008 series of 'This time is different'.

These friggen idiots have overworked the fraud, we are onto their game.

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