Remember back in the ’80s, when conventional (media) wisdom suggested that Ronald Reagan’s “twin deficits” in trade and the budget were going to usher in the next great depression?
It didn’t quite work out that way, as Reagan’s policies instead ushered in the Seven Fat Years, millions of jobs were created, American productivity soared, and we enjoyed morning in America.
Still, it’s kind of fun that the same media dinosaurs are still running many print newsrooms in the country, and are still worried about the next great depression:
Although the U.S. economy is growing faster than expected, rising interest rates would quickly curb expansion and send stock markets lower. Unchecked, the recession could spread around the world.
Conservatives used to be called the cynical pessimists! Now, that’s left to reactionary media dinosaurs at newspapers in decline.
Since the Chron is unlikely to provide “another voice” that differs from its own, here are some related thoughts from a different perspective.
