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The fact is that FDR was elected in 1932 and New Deal ushered in precisely because the government did nothing (on the advice of the very serious people) for three years after 1929.

So it is entirely possible the opening for a Newer Deal in the US is in 2012, not 2008.

When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done. — John M. Keynes

by Migeru (migeru at eurotrib dot com) on Tue May 6th, 2008 at 06:50:30 AM EST
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