Sep 28, 2015

Why I Believe Paul Krugman Over Jim Hamilton: Why a Chinese Slowdown Is by itself Little Threat to the U.S. Economy

[**Over at Equitable Growth**][1]: The collapse of housing investment in the U.S. after the bubble pop began in late 2005 was absolutely huge: [**READ MOAR**][1] [1]: http://equitablegrowth.org/?p=13709 By the end of 2007, about $400 billion/year--2.5% of GDP--of spending on residential construction that had been there in 2005 was no longer. Yet the U.S. economy was not in recession. The...

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