Upside of a Downturn
August 26th, 2007Lawrence Summers, the controversial former President of Harvard and ex-Secretary of the Treasury, says today that the chances of a recession are better than at any time in recent memory, and he’s right. The odds are great, though he isn’t predicting that it will recess. Just saying, It’s very possible.
I saw that, coming from him, and wondered how political it was. Is it supposed to subtly remind the public that the Clinton economy boomed? It would definitely be a boost to any Democratic campaign if the economy collapsed, but it would help Hillary Clinton the most. Not that I’d ever root for an economic collapse, large or small, as I believe the well-being of the American public is more important than political gain, but the economy is the greatest wild card in American politics, and I feel free to speculate.