A dreary jobs market, stagnant GDP, declining household income, falling wages, workforce reduction, anemic production… You name it. The economy’s clunking down the road like an old Cutlass Supreme.
No matter what fixes are made, the thing can’t seem to fire on all cylinders. A blown head gasket’s replaced and the very next day the spark plugs are fried. Replace those and a piston ring blows.
Now, five years after the death of Lehman and the subsequent Great Recession, the recovery’s as lethargic as a junk yard dog. Perhaps it needs a good kick in the rear to bare its teeth and put up a fight. But where would the kick come from? We have a few ideas…
From our perch, we see an economy that’s larded over with too much debt and funny money. If you recall, all the stimulus was supposed to boost demand and GDP growth. Before long, new jobs would appear faster than they could be filled and a new era of prosperity would be upon us.
What a crock of horse puckey that’s turned out to be. Continue reading
