Oh, I agree. My personal favourite explanation of the business cycle is delayed feedback. Bush is a symptom, not the disease.
If you remove that taxation you'll get your fake boom, and blow off a few bubbles that will inflate the cycle even further.
But a crash becomes inevitable because wealth acquisition spawns a positive feedback loop that rapidly concentrates all of the liquidity in a few locations and stops it circulating elsewhere.
Effectively you get a real sclerotic economy where money simply stops circulating.
Gosh, the neoliberals must love their recessions deep and hard, they fight so hard against the shock absorbers. I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.
