Donald Trump Supports Rick Santorum's Controversial Theory Of The Last Recession

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On CNBC, Mitt Romney supporter Donald Trump just endorsed the Rick Santorum theory of the last recession.Santorum has been arguing that high oil prices — not housing — were the real driver of the last recession.

The knowerati have been mocking Santorum for this view, but there’s actually some academics who support it, including UCS professor James Hamilton, who writes the blog Econbrowser.

One key difference between now and 2007: At the time, initial claims, housing starts, car sales, and other economic metrics were all going in the wrong direction as housing spiked.

Now? They’re all going in the right direction.

Read more on the comparison here >

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