<<Is there a conspiration against a Recovery>>
I got this down pat, almost verbatim, from the Austrians;0)
There cannot be recovery without pickup of consumer spending, housing purchase and/or capital investment increase.
In the US-centric world, the first two are at peak health, and one cannot recover from peak health. The last item cannot be without hope for profit, and given capacity on tap, pension fund shortfall, debt service, asset value implosion, globalization efficiencies, Japan/Europe staying tepid, ... profit cannot be.
Thus, no recovery for a long time.
Chugs, Jay |
