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Politics : Politics for Pros- moderated
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To: LindyBill who wrote (120951)6/19/2005 10:30:03 PM
From: DMaA  Read Replies (1) of 793957
 
Why come up with new fancy theories. A simpler explanation is that the data is hosed. The old methodologies used to measure what people are doing don't work anymore.

But since 1990, consumer spending has changed. It's consistently outpaced income growth. In 2004, Americans spent 99 percent of their disposable income and saved only 1 percent. The main cause is the "wealth effect."

No irony at all. Government isn't sure what to do, does nothing, so isn't screwing things up like usual.

But here's an intriguing irony: the less we understand the economy, the better it does.
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