Category: Quantitative, Think Tank

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “Michael Belkin 2:30”

  1. Squashy says:

    Since 2008, unemployment has remained high by historical standards. Home prices have not recovered to boom highs. Real wages (wages – inflation) have decreased. The dollar has lost value and remained depressed. Goods and services cost the average American much more than 10 years ago. Aren’t those the “real” recessionary indicators? The military expenditures of two unresolved “wars” (not declared by Congress) and entitlement programs of the Bush and Obama administrations have left the USA handicapped in debt to mortgage the future. How can what has happened since 2008 be considered “growth” when all this has happened and many of the indicators of real growth are below 2008 peaks? Note that the economy “recovered” after the depression of the 1930s but it took WW2 and ~25 years for the DJIA to recover to its 1929 high. What’s really happening now is that the artificial stimuli of QE1 and 2 that benefited big banks and a few industries has run out of steam, and the FED has no more genies in the bottle. FED saved the economy from meltdown but could not and did not promote economic STRENGTH which is created only by steadily rising industrial production. That began to stagnate 20 years ago when US companies started massively outsourcing labor and manufacturing overseas to save money and produce goods for leveraged consumers at the lowest possible cost. The birds are coming home to roost.

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