"This expansion will run forever,"
Rudi Dornbusch - MIT economics professor - July 30, 1998, Wall Street Journal.
"We don't want one, we don't need one, and, as we have the tools to keep the current expansion going, we won't have one."
Rudi Dornbusch - MIT economics professor - July 30, 1998, Wall Street Journal. Regarding The U.S. having a recession.
"Thus, only natural causes, and not the Fed, can bring the economy to a standstill. Fortunately, we have the monetary and fiscal resources to keep that from happening, as well as a policy team that won't hesitate to use them for continued expansion."
Rudi Dornbusch - MIT economics professor - July 30, 1998, Wall Street Journal.
Source
Forecasting Crashes and Recessions
"Something Unanticipated Happened"
Where's The Risk?
"And there are dangers that institutions take bets on particular risk models that turn out to be wrong. Long-Term Capital Management nearly collapsed in 1998 after the Russian default undermined its investment assumptions. Similar mistakes could emerge if others have taken on too much bank credit, assuming the extraordinary bubble of the 1990s would continue for longer."
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