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	<title>David&#039;s Macro Blog &#187; Calculated Risk</title>
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		<title>Ben Bernanke Fooled by The Bubble?</title>
		<link>http://www.davidoverfield.com/196/ben-bernanke-fooled-by-the-bubble/</link>
		<comments>http://www.davidoverfield.com/196/ben-bernanke-fooled-by-the-bubble/#comments</comments>
		<pubDate>Tue, 20 Oct 2009 01:17:15 +0000</pubDate>
		<dc:creator>David Overfield</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[Ben Bernanke]]></category>
		<category><![CDATA[bubble economy]]></category>
		<category><![CDATA[Calculated Risk]]></category>
		<category><![CDATA[real estate bubble]]></category>
		<category><![CDATA[trends]]></category>

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		<description><![CDATA[Is it possible that the great equity bubble of 2007 could fool the person best positioned to detect it? Calculated Risk states in his post &#8220;A Comment on Fed Chairman Ben Bernanke&#8221; that Ben Bernanke misread the real estate bubble as Fed Governor, then as Chairman of the Presidential Council of Economic Advisers, and later [...]]]></description>
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		<title>Growth Engines for the &#8220;Great Recession&#8221;?</title>
		<link>http://www.davidoverfield.com/141/growth-engines-for-the-great-recession/</link>
		<comments>http://www.davidoverfield.com/141/growth-engines-for-the-great-recession/#comments</comments>
		<pubDate>Thu, 17 Sep 2009 05:30:05 +0000</pubDate>
		<dc:creator>David Overfield</dc:creator>
				<category><![CDATA[Economics]]></category>
		<category><![CDATA[Real Estate]]></category>
		<category><![CDATA[boom and bust]]></category>
		<category><![CDATA[business cycles]]></category>
		<category><![CDATA[Calculated Risk]]></category>
		<category><![CDATA[financial crisis 2008]]></category>
		<category><![CDATA[personal consumption expenditures]]></category>
		<category><![CDATA[recession]]></category>
		<category><![CDATA[residential real estate]]></category>

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		<description><![CDATA[Historically we often think of a recession as a sharp drop in economic output followed by a sharp rise. This is called the &#8220;V-shaped&#8221; recovery. The current &#8220;Great Recession&#8221; had a sharp downturn but so far no recovery after 18 months, and most talk is of an &#8220;L-shaped&#8221; or &#8220;U-shaped&#8221; rebound. Why is this? There&#8217;s [...]]]></description>
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