“The FHA's success provides strong evidence that government can and should play a role in the nation's mortgage finance system. It also demonstrates that although government intervention in the economy during the Great Recession was messy, things would have been a lot messier without it.” ShouldHas BeensPlayGovernmentStrongNationsRolesEconomyEvidenceFinanceInterventionMessyMortgageRecessionsGovernment InterventionGreat Recession Author:Mark Zandi
“It has become fashionable to rail against government intervention in the economy, and the FHA is a favorite example by those trying to show the government's overreach. In reality, the FHA shows how government action during the Great Recession forestalled a much worse economic fate.” TryingShowsRealityGovernmentActionEconomyFateEconomicExampleInterventionFashionableRecessionsRailGovernment InterventionGreat Recession Author:Mark Zandi
“The recession is over." This phrase has been used twice a year since 1973 by government leaders throughout the West. Its meaning is unclear. See: Depression.” YearsHas BeensGovernmentUsedLeaderWestPhrasesRecessionsUnclear Book:The Doubter's Companion: A Dictionary of Aggressive Common Sense Source: The Doubter's Companion: A Dictionary of Aggressive Common Sense
“As the United States continues its slow but steady recovery from the depths of the financial crisis, nobody actually wants a massive austerity package to shock the economy back into recession, and so the odds have always been high that the game of budgetary chicken will stop short of disaster. Looming past the cliff, however, is a deep chasm that poses a much greater challenge -- the retooling of the country's economy, society, and government necessary for the United States to perform effectively in the twenty-first century.” WantFirstsCountryStatesGovernmentPastGamesChallengesUnitedUnited StatesEconomyGreaterCenturyTwentiesCrisisDepthFinancialDisasterRecoveryShockMassiveChickensSteadyOddsPackagesCliffsRecessionsFinancial CrisisChasmsAusterityLooming Author:Fareed Zakaria
“Broadly speaking, Keynesianism means that the government has a specific responsibility for the behavior of the economy, that it doesn't work on its own autonomous course, but the government, when there's a recession, compensates by employment, by expansion of purchasing power, and in boom times corrects by being a restraining force. But it controls the great flow of demand into the economy, what since Keynesian times has been the flow of aggregate demand. That was the basic idea of Keynes so far as one can put it in a couple of sentences.” MeanHas BeensIdeasGovernmentCoursesForceResponsibilityEconomyCoupleDemandBehaviorEconomicsFlowSentencesEmploymentExpansionRecessionsAutonomousPurchasingRestrainingKeynesPurchasing PowerKeynesianism Author:John Kenneth Galbraith