As for why, Greenspan raised interest rates 6 times between June 1999 and May 2000 because he thought the economy was "overheated." After solving that problem, he lowered rates 11 times in 2001. (The recession ended in November, 2001.)
"A widely accepted economic theory among conservatives is that presidents have little, if anything, to do with the economy."
Isn't that what economists also believe? Aren't conservatives generally regarded as being more pro-business than non-conservatives, given the former's historical disregard for environmental and regulatory concerns? Factor in the conservatives' historical enmity of unions and it's hard to believe Wall Street would be scared of a conservative president. The WSJ editorial page aint exactly known for its non-conservative views.
Given low voting turnouts, it's hard to believe most people care enough about who's in the WH
to alter their economic decisions accordingly.
Current Events » in reply to why did the Bush recession start?
According to the NBER (the official arbiter of when U.S. recessions begin and end), the economy peaked in March of 2001 . . .
The whole thread (18 posts)
- why did the Bush recession start?
- Since the clinton recession started in 2000, you tell me. (n/t)
- When you start taking 300 and 400 level classes, let us know. I'm sure we'd all be glad to help. (n/t)
- According to the NBER (the official arbiter of when U.S. recessions begin and end), the economy peaked in March of 2001 . . .
- This has GOT to be the longest reach I've seen yet.
- Correction: why did the Clinton recession start? It began in late spring of 2000 with the dot-com collapse. Don't you remember. I notice that your graph omits this period. (n/t)
- Answer, because Clinton started it a year before.
- Look at the trend. It was falling during Clinton's last year.