Thank God we have websites like John William's Shadowstats ( http://www.shadowstats.com/alternate_data) to remind us we've actually been in one constant, giant recession since 1987! Now THAT is more credible than any non-sense the government fudges in their weekly releases?
You're wrong. We have not been in one Giant Constant Recession since 1987. It has not ended since 1982! Unplug yourself from the Matrix dude - it's was all a fiction! Since 1982 it has been an economy run on debt steroids. Now I'll admit that debt is not inherently bad. But when you see all debt increase disproportionately to GDP growth over time, and only getting continually worse - you have to wonder what will our reality be when we reach the ceiling. And I mean the ceiling when the private sector can no longer take on an exponentially growing amount of debt. Especially in a world where you have over 2 billion people that magically appeared on the global economy willing to work for pennies on the dollar. Oh wait, we already reached the ceiling... And what happened? The government effectively nationalized the financial system and therefore needs to keep creating debt to compensate for the lack of strong credit growth in the private sector. Otherwise, we experience a deflationary spiral that will destroy our F.I.R.E. economy due to asset devaluation. Reality will be a bitch to deal with when the govt reaches it's limits. We'll all be wiped out.
Larry Summers name is on the cover of Richard Koo's book. Can anyone (preferably Landis) tell me why, if it shouldn't be there?
The stimulus is slowing the economy. The stuff that Roosevelt did slowed the economy is his day too. Most countries had emerged from depression before WW2 but the US did not... only Roosevelt worshipers believe that what he did was good overall... Politicians go with Keynes no matter what because they get to handle tons of money in a crisis, pure and simple, it never worked...