A related contradiction in the party line is that it was unhealthy for there to be lending to people with bad credit scores. But now it's considered a problem that today (according to the party line) only persons with good credit can obtain loans! Which is it: does a healthy economy provide subprime credit, or not?
P.S. First estimates of GDP growth 2008 Q2-Q3 will be released later today. Obviously, one quarter does not make 7-10 year time frames like I studied above. Other than saying that employment will not fall below 134 million and that real GDP (chained 2000 dollars) will not fall below $11 trillion, I do not have any prediction about today's release (read the specifics of my predictions here).