I have 2 macro complaints...
First off.. this idea that FDR and the spending didn't turn the depression around...
If you look at a chart of the market, and when FDR is elected.... Guess what happens...
Unless your thesis is that "the market and the economy are Decoupled"... and if so.. I just can't help you.
Second... the Japanese LOST DECADE.... HAVE YOU SEEN THE CHART OF THE MARKET AND IT'S PROGRESS SINCE 1997....... SEEN ANY OTHER LOST DECADES. You want to worry about a "Lost Decade"... how about the one we already lost.... Thank god for those Tax cuts.
I have decided that the reason for the Republican brinkmanship is to get those tax cuts extended.
Monday, February 9, 2009
Macro...
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3 comments:
Even though our GDP expanded the last decade, how much of that was pure leverage? Was there any real GDP growth?
Brinksmanship over tax cuts is exactly what's going on. Obama's chances of getting Repubs to sign on to this stim bill was zero. He was naive to think otherwise.
There was a thing on FDR on history last night, It's so much the same thing... Laissez-faire running things into the ground. Then a revival of populism and reregulation. Rebuilding government as the safety net.
The republicans just wanted the "bush tax cuts" extended. And that idiot Lafer... Not that there isn't something to what he says, but you can't tax cut to prosperity.
I imagine there was some growth in gdp... question is was it offset by the leverage.
then beyond that was it offset negative with real inflation.
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