Economics @ ITT

Sundown in America

Posted in economics, macroeconomics, Policy Issues by ittecon on March 31, 2013

Whilst I agree with parts of Chicken Little’s David Stockman’s OpEd piece, it is quite reductionist and misses as many points as it hits.

Over the last 13 years, the stock market has twice crashed and touched off a recession: American households lost $5 trillion in the 2000 dot-com bust and more than $7 trillion in the 2007 housing crash. Sooner or later — within a few years, I predict — this latest Wall Street bubble, inflated by an egregious flood of phony money from the Federal Reserve rather than real economic gains, will explode, too.

via Sundown in America – NYTimes.com.

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