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From Brad DeLong:
Is 2008 Our 1929?
No. It is not. The most important reason it is not is that Bernanke and Paulson are both focused like laser beams on not making the same mistakes as were made in 1929.
They are also focused, but not quite as much, on not making the mistakes made by Arthur Burns in the 1970s.
And they are also focused, but not quite as much, on not making the mistakes the Bank of Japan made in the 1990s.
They want to make their own, original, mistakes…
(WASHINGTON) — A Democratic-controlled Senate panel Tuesday approved a $2.50 increase in airline security fees that would double the per-passenger fee for those taking nonstop flights.
MOSCOW — Global stocks enjoyed one of their best days in weeks on Tuesday ahead of a summit of European leaders that’s expected to be dominated by calls to boost economic growth.
Europe remains the focus of attention across all financial markets in the run-up to the June 17 Greek election that could go a long way to determining the country’s membership of the euro as well as the future of the single currency zone.
