Several years ago, a “Special Assistant” to the United States Secretary of the Treasury was addressing a highly sophisticated audience of economists on an extremely dry subject. Halfway through the talk, the speaker sensed that the boring nature of the subject matter was causing him to lose his audience: eyelids were drooping, people were looking at their watches. Consequently, he tried to spice things up with a little humor, saying,
Many learned economists might tell you that a slowing up of the slowdown is not as good as an upturn in the down-curve. But even this is a good deal better than either a speed-up of the slowdown or a deepening of the down-curve. And it does suggest that…
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