Quote:
Originally Posted by LessinSF
Call it by a different name then - it is a contraction due to systemic deleveraging.
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I don't disagree with that.
But that's different from Sebby's "we're all dead wood so get ready for The Road." (at the risk of referencing multiple sources)
ETA:
All of these are worth reading. In addition to the one I linked to earlier,
this one is especially good, and I'd add
David Beckworth. And of course most of what
Scott Sumner has been saying for years.
What we need is more money, and thus more NCGP, which will mean a bit more inflation but also more real GDP and far fewer people who are "structurally" unemployed.
