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businessinsider.com - 5/30/2009

Obama's Economist Austan Goolsbee: Stop Bitching, People, We Just Saved Your Lives

— businessinsider.com — Great quote from White House economic spokesperson Austan Goolsbee from the Bloomberg-Vanity Fair panel the other night. Context: Jack Welch has just opined that Barack Obama's budget is "from the moon." GOOLSBEE: The budget is from the moon, Jack is ... (more) Obama's Economist Austan Goolsbee: Stop Bitching, ...

Government

Barack Obama

Austan Goolsbee

Depression

Joe Biden

Gross Domestic Product

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bloomberg.com - 5/29/2009

Obama Prevented Depression, Now Needs Patience, Goolsbee Says

— bloomberg.com — May 29 (Bloomberg) -- The Obama administration took actions that averted a second Great Depression and now needs the American people to be patient as the recovery gathers steam, senior White House economic adviser Austan Goolsbee said. “I am ... (more) Obama Prevented Depression, Now Needs Patience, Goolsbee ...

Commodities

Depression

Austan Goolsbee

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tvhe.co.nz - 5/26/2009

Cartoon: Recessions don’t hurt everyone

— tvhe.co.nz — (Source GWS ) Remember, even during the Great Depression there were people that were better off than they would have been. There are always winners and losers. When prices are falling, and when relative prices change, there are people who benefit from that - as well as people that lose ... (more) Cartoon: Recessions don’t hurt everyone

Commodities

Depression

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Keeping Things in Perspective
Greg Mankiw's Blog — The graph is from the Donald Marron's new blog.

To Remind You Once Again, This is Not The Great Depression 2.0.
Toro's Running of the Bulls Market Blog — From Donald Marron via Greg Mankiw. Just to put everything in perspective.

The current recession in context
Bubble Meter — ... have almost gleefully been comparing the current recession to the Great Depression. To give readers a sense of how not bad the current recession is, here is the decline in GDP of several major recessions vs. the Great Depression: ...