What Happened to the Impending Recession? - Opinion
Once the correction arrives, there is only one wise way out: Let it happen. That’s what the Coolidge administration did in 1923 and the Reagan administration did in 1981. Once the bad investments are cleansed from economic structures, the economy is set for recovery. But that’s not what happened in 1930 and not what has happened since 1982. These days, the central bank and the government generally attempt to dig their way out of recession but doing this only makes matters worse.