Posted AT 12:46 AM EST on 15/09/08
America's latest recession: different, yet somehow the same
One of the warnings in Rules for Economists reads: Never say it's different this time. It comes right after a rule prohibiting the use of clear language in presentations, and right before a rule about how to revise forecasts while leaving the impression you've been correct all along.
But, in 2008, things are different - at least different in terms of what triggered the most recent U.S. economic downturn.
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