To be able to critically analyze economic probabilities, one needs to know the history of previous similar situations. For the first 125 years of our county we had no Federal Reserve Bank, no permanent personal income tax and no massive government stimulus spending. We also had virtually no inflation and the average economic downturn lasted only 10 months.
Here’s a new twist on that old cliché “Those who can’t do, teach.” “Last night, former Illinois Gov. Rod Blagojevich returned to his alma mater, Northwestern University, and to a crowd as skeptical as it was curious to hear how he would defend his legacy in a panel discussion dedicated to ethics in politics,” David Vognar reported on The Huffington Post. “The result for both Blagojevich and the audience was more talk, talk, talk.”