June 24, 2022

A Recession Is When your Neighbor Loses His Job...

Nearly a half-century ago, Ronald Reagan gave us this simple aphorism to describe the kind of economy we face today. During those far way 1970s, the economy back then was failing. We had gone through the supply-side shock of an oil embargo. Inflation was...


Nearly a half-century ago, Ronald Reagan gave us this simple aphorism to describe the kind of economy we face today. During those far way 1970s, the economy back then was failing. We had gone through the supply-side shock of an oil embargo. Inflation was the highest it had been in generations. And the country was governed by an unpopular President who couldn't seem to get anything right.