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Posted at 6:02 PM ET, 12/13/2010

Reconciliation

By Ezra Klein

Recap: Health-care reform had a good news/bad news sort of day; a primer on unemployment benefits; and what the Filibernie revealed about filibusters.

Elsewhere:

1) A roundtable on Larry Bartels's "Unequal Democracy."

2) The tax deal beat a filibuster in the Senate -- but what will happen in the House?

3) "The year 2008 wasn’t in the distant past, we can remember what happened and didn’t happen. No American cities were destroyed by nuclear weapons. No draught crippled our agriculture. People didn’t suddenly forget job skills they’d had. What happened was a large negative shock to demand not an earthquake or a flood or a plague. I was there and so were you."

4) The crisis of 2007 was a lot like the crisis of 1907.

Recipe of the day: Can I still post latke recipes?

By Ezra Klein  | December 13, 2010; 6:02 PM ET
 
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Next: Wonkbook: Tax plan proceeds with high public support; judge rules against health mandate; Summers final speech

Comments

The difference between today and any other financial crisis faced previously is the fiat currency which enabled an immediate and unprecedented expansion of the money supply throughout the banking system.

Posted by: 54465446 | December 13, 2010 9:09 PM | Report abuse

Ezra,

Does anyone remember the huge run-up gasoline prices starting around January 2008? At the time I was thinking that this will have a huge effect on production.

What it probably did was seal the doom of all those homes built on the periphery of metropolitan areas like Los Angeles, Las Vegas, Phoenix, and Miami that required longer commutes. I believe that was the domino that started the collapse.

Posted by: ElGipper | December 14, 2010 10:50 AM | Report abuse

Ezra,
Latke recepies are always welcomed, but maybe some involving leftovers? Not as fresh but it is the best use of mashed potatoes...

Posted by: ctown_woody | December 14, 2010 11:25 AM | Report abuse

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