But so is often economical upturn just a product of peoples
imagination.
they expect a steep growth of the markets and their wealth.
They invest into project fot the future, -on credit- and dont
save so much.

Everyone is purchasing and investing more.
A typical bubble arises.
In the end the economy grows unhealthyly fast.
(too many investments in not needed capital goods and markets, and overspending on credit for
consumer goods, low savings)

Its as bad a deperession coming from expectations.

(-> Keynes model of anticyclical govenrment
actions/interventions is still valid as in the 30s)


And to Obama: I dont think he would be elected in any
European country. The top candidates here need
to present their stance differently than in the US.