by Ben Stein - in the
American Spectator - I am sixty-five now. I have lived through many recessions. The first one I remember clearly was in 1958 and the worst one, by far, until now, was the one in the late 1970s stretching into the early 1980s, when we had double-digit inflation and double-digit unemployment simultaneously. That should have been impossible, but thanks to union Cost of Living Adjustment contracts and skyrocketing oil prices, it was indeed possible. But the current recession, which really started with some very tense days in late 2007 and began in deadly earnest when Hank Paulson, possibly the most incompetent Treasury Secretary of all time, allowed Lehman Brothers to fail, has been the most upsetting for several reasons.
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The End of Wishful Thinking
by Ben Stein - in the American Spectator - I am sixty-five now. I have lived through many recessions. The first one I remember clearly was in 1958 and the worst one, by far, until now, was the one in the late 1970s stretching into the early 1980s, when we had double-digit inflation and double-digit unemployment simultaneously. That should have been impossible, but thanks to union Cost of Living Adjustment contracts and skyrocketing oil prices, it was indeed possible. But the current recession, which really started with some very tense days in late 2007 and began in deadly earnest when Hank Paulson, possibly the most incompetent Treasury Secretary of all time, allowed Lehman Brothers to fail, has been the most upsetting for several reasons. Read more
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