Confused about the economy? Me, too
Posted on September 23, 2008 by LuAnn Farrar
While I haven’t got an economic crystal ball (or any other kind, for that matter), I can ask others more knowledgeable who might clear-up some economic fog. I want to know what you want to know about the economy. I invite you to ask by posting a comment.
Filed under: Economy
My mother was a public school librarian. I earned a bachelor’s degree in music and a master’s degree in library and information science from the University of Kentucky. The Herald-Leader hired me as a news assistant 25 years ago; soon after, I moved to the news research department, where I’ve been ever since. We used to clip newspapers. Now, almost all of our research is online. We've come a long way.
Where did all the money go?
I can’t figure out where the money went this time. While
financial institutions are now stuck with way overvalued toxic assets,
they originally paid someone a pretty hefty price for them. For every
debit there is a credit. So, who has got the money?
For example, I can figure out where the money raised in the dot.com
bubble went. It went into the IT economy for programmers, hardware, real estate, etc. and thence into the general economy. That’s why there was hardly a hiccup for non-IT investors in the 2001 - 2003 recession; the money was just recycled.