[continued from previous message]   
      
   caused by an excess supply of money, and external shocks like wars or   
   financial bubbles tend to dominate downturns.   
   Faster growth is mostly due to unexpected productivity shocks like   
   widespread computing or some other technology.   
   Hicks: Indiana factories are about to speed up automation — and job cuts   
   Presidents are plagued by luck, either good or bad. Ronald Reagan’s morning   
   in America was largely due to the Fed ending inflation. Bill Clinton took   
   office just as the economy began a long growth spurt that would’ve happened   
   with or without him (or Congress). Both Bushes ended their presidencies in   
   recessions they had no hand in causing.   
   The Trump tariffs are perhaps the most notable exception to this pattern.   
   This period will someday be described as the most bizarre departure from   
   economic common sense that we have yet experienced. The only remaining   
   question is how long Americans will tolerate it.   
   Michael J. Hicks is the director of the Center for Business and Economic   
   Research and the George and Frances Ball distinguished professor of   
   economics in the Miller College of Business at Ball State University.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)