Economic Tidbits


“Recession? Too scary. Depression? Even worse. Political operatives within the Carter administration chastised him (Alfred Kahn) for saying those words out loud. So he found a better, Marxian term — one fit for Groucho, not Karl. Henceforth, he said, economic downturns were ‘bananas,’ as in this sentence: ‘Between 1973 and 1975 we had the deepest banana that we had in 35 years, and yet inflation dipped only very briefly.’” Strategies: U.S. Economy May Be Heading to a Place That Must Not Be Named, Jeff Sommers, New York Times, April 9, 2023

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