THE SAME OLD UNANSWERED QUESTIONS: Barron's Up & Down Wall Street - Barrons.com
What somehow never gets explained by all these upbeat types is "why is this time different (if not worse)"?
In other words, in the 1970's we had 'staglation' when the Feds share of GDP was over 19%. Now we're roughly at 25%.
If anything, the economic competitors to the US today (vs. the 1970's) would appear to be nothing if not more formidable. So, one would have to assume that American job creation would take even more capital???? (per job)
Some rather strong evidence supports this capital (and the ancillary rate of return) argument in terms of data showing the total output of goods and services in the US back to pre-bust levels with substantially fewer people working. Am I missing something here with the math?
Saturday, February 5, 2011
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