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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: UncleBigs who wrote (47807)12/20/2005 2:27:36 PM
From: GST  Read Replies (1) | Respond to of 110194
 
<The fuel for our current "growth" is debt not productivity.>

That is precisely what is wrong with our economy. When we return to productivity-led growth then we will have a shot at higher living standards. Until then, we are just smoking economic crack.



To: UncleBigs who wrote (47807)12/20/2005 2:32:11 PM
From: gpowell  Respond to of 110194
 
It does appear you and Mish are stuck in the underconsumption "general glut" dilemma that seemed to plague the thinking of 19 century economists, resurrected briefly by Keynes, and now spoon fed to undergraduates and graduate MBAs. I think you might invest in a dose of non-stationary capital theory.

Consider these post I made on Mish's thread a while back.

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