Over at Grasping Reality: Monday DeLong Smackdown: Scott Sumner: Could We Have Had a Severe Recession Without the 2008 Financial Crisis?: “I have trouble with DeLong’s implicit assumption is that the financial crisis caused the Great Recession…. The years leading up to 1990 saw Australian-level NGDP growth, if not more. So even if lending standards … Continue reading Could We Have Had a Severe Recession Without the 2008 Financial Crisis?