[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$fGbSyHSftA-84c-3T_rE_J8X7RIMGpV1tOkaeR5Zo610":3,"$fyep-0y3IcQwHWSr_yT4UMogYnuX44ma7jQbNIDacFjo":20},{"author":4,"tags":11},{"author_id":5,"author_name":6,"author_name_first_letter":7,"article_count":8,"bio":9,"short_bio":9,"slug":10,"image_url":9},198434,"Mark Zandi","M",234,null,"mark-zandi",[12,16],{"tag_id":13,"tag_name":14,"tag_count":15},290347,"economy-and-economics",18,{"tag_id":17,"tag_name":18,"tag_count":19},25099,"across",5,{"quotes":21,"pagination":86},[22,30,37,43,49,56,62,68,74,80],{"id":23,"quote_text":24,"author_id":5,"source_id":25,"has_image":26,"author":27,"source":28,"quote_tag":29,"commentary":9},3817799,"The biggest culprits in the housing fiasco came from the private sector, and more specifically from a mortgage industry that was out of control.",7,false,{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":31,"quote_text":32,"author_id":5,"source_id":33,"has_image":26,"author":34,"source":35,"quote_tag":36,"commentary":9},3260478,"The discussion in Washington has changed dramatically. I mean, it’s no longer a question of should we address entitlements – it’s no longer a question of do we need to reduce spending in the future.",6,{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":38,"quote_text":39,"author_id":5,"source_id":33,"has_image":26,"author":40,"source":41,"quote_tag":42,"commentary":9},3260473,"The FHA’s success provides strong evidence that government can and should play a role in the nation’s mortgage finance system. It also demonstrates that although government intervention in the economy during the Great Recession was messy, things would have been a lot messier without it.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":44,"quote_text":45,"author_id":5,"source_id":33,"has_image":26,"author":46,"source":47,"quote_tag":48,"commentary":9},3260468,"Our biggest challenge is to eliminate the popular perception that economists don’t have anything useful to say.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":50,"quote_text":51,"author_id":5,"source_id":33,"has_image":26,"author":52,"source":53,"quote_tag":54,"commentary":55},3260461,"Yes. I don’t think it would be appropriate at this point to raise taxes on anyone, certainly not in 2011.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],"**The Backstory**\nThis quote is attributed to Mark Zandi, Chief Economist at Moody's Analytics, during a time of significant economic uncertainty in 2011. The US was grappling with the aftermath of the 2008 financial crisis, high unemployment rates, and a contentious debate over fiscal policy. Zandi's statement reflects the complexities of economic decision-making and the challenges of balancing competing interests.\n\n**The Hidden Insight**\nWhat lies beneath this seemingly straightforward statement is a nuanced understanding of the interplay between economic reality and political pragmatism. Zandi's caution against raising taxes in 2011 highlights the tension between addressing fiscal needs and avoiding economic shockwaves, revealing a deeper paradox: that sometimes, the most responsible decision is the one that acknowledges the limitations of available options.\n\n**How to Use This**\nIn today's fast-paced business environment, professionals can apply this mindset by embracing \"good enough\" solutions, recognizing that perfection is often a luxury that can hinder progress. By acknowledging the limitations of available resources and options, leaders can make pragmatic decisions that prioritize stability and incremental improvement over idealistic but unattainable goals.",{"id":57,"quote_text":58,"author_id":5,"source_id":33,"has_image":26,"author":59,"source":60,"quote_tag":61,"commentary":9},3260457,"Past experience with fiscal austerity at home and overseas strongly suggests that it is best for the economy’s long-run performance to restrain government spending rather than raise taxes.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":63,"quote_text":64,"author_id":5,"source_id":33,"has_image":26,"author":65,"source":66,"quote_tag":67,"commentary":9},3260452,"I’ve done work for both Democrats and Republicans.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":69,"quote_text":70,"author_id":5,"source_id":33,"has_image":26,"author":71,"source":72,"quote_tag":73,"commentary":9},3260444,"It is hard to be enthusiastic about the economy’s prospects when house prices are falling: Households spend less, small business owners can’t use homes as collateral for loans and local governments are forced to cut jobs and programs as property-tax revenue disappears.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":75,"quote_text":76,"author_id":5,"source_id":33,"has_image":26,"author":77,"source":78,"quote_tag":79,"commentary":9},3260427,"Lenders look at potential borrowers from many angles before extending credit: How much of its income will a household need to put into debt repayment? How large is the down payment? Does the borrower have a job with a stable income? What is the borrower’s credit score?",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"id":81,"quote_text":82,"author_id":5,"source_id":33,"has_image":26,"author":83,"source":84,"quote_tag":85,"commentary":9},3260416,"Housing was ground zero for the Great Recession. Between early 2006 and Obama’s inauguration in 2009, average house prices fell by a third across the country. In certain areas, including cities as diverse as Akron, Orlando and Las Vegas, house prices fell by more than half.",{"id":5,"author_name":6,"slug":10,"author_name_first_letter":7,"article_count":8,"image_url":9},{},[],{"currentPage":87,"totalPages":88,"totalItems":8,"itemsPerPage":89},1,24,10]