My column in the State Journal this week deals with a topic that we got to discussing over beers a little while back. The media loves to cry wolf-- anything that can be spun badly, will. And with the way things have played out in the recent past, there are no shortage of opportunities.
But what about the good things that come from economic downturns-- in particular, what things happen during downturns that are the exact opposite of what people complain about during upswings? I cited gas prices, housing prices and (though, in general, not strictly cyclical with the economy like the other two) the strength of the dollar, but there are plenty more. I'd like to hear what other examples are out there.
Optimists, the day is yours!
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They (incorrectly) point out that the trade deficits often shrink.
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