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There is no such thing as "stagnating forward", and your fund analyst guy is straddling every point he tries to make. Sort of what psychics and fortune-tellers do. Meanwhile, there is no one I have ever heard of proclaiming that the US economy has never been better. Any sensible person however would note in one way or another that it is currently doing better than at almost any other moment since Bill Clinton left office.
Actually, the United States is, relatively speaking, a bright spot in the world economy. If you want stagnation, look at the EU. Also, China is a house of cards, one that they keep building on out of sheer momentum. So the longer they build, the bigger the disaster is going to be.
Someone posted this in the investment forum so I will repeat what I pointed out there. The best thing about this article is you can click on the author's name and see all the articles he has written. He is very prolific with an opinion on all financial issues. Go back a year or so and you can readily see his predictions were incorrect.
The World economies are struggling because right-wing neoliberalism has brainwashed every country. Fiscal conservatism is economic stupidity. Countries with Central Banks are not going to have growing economies while tightening the belt. They need to loosen the reins and go back to stimulus in the form of infrastructure. The student debt also needs to be forgiven.
It's not rocket science. Economies are not going to grow without public sector investment. The public sectors of all the Western Powers have been hijacked by the 1%, so they have no will to help the 99%. Helping the 99% is the only way to create velocity in the economy.
The World economies are struggling because right-wing neoliberalism has brainwashed every country. Fiscal conservatism is economic stupidity.
There is a good deal of truth in that. EU reactionaries of the same or worse ilk as US Republicans were prone to buying into what have now been shown to be the flawed and misleading treatises and promises of "austerity" as spearheaded by the work of Reinhart and Rogoff. These are not evil people. They simply failed to detect flaws -- from conceptual mistakes to simple spreadsheet errors -- in work that gained a lot of currency among people who were predisposed to welcoming it. What a fine mess that's gotten us into.
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Originally Posted by Opin_Yunated
Countries with Central Banks are not going to have growing economies while tightening the belt. They need to loosen the reins and go back to stimulus in the form of infrastructure.
All actually measurable economies have their own central bank or make use of someone else's. The notions of austerity have now plainly failed everywhere. No rational person or bank can still be arguing for it.
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Originally Posted by Opin_Yunated
The student debt also needs to be forgiven.
Private schools have always been expensive. Public schools were once affordable. Then the bozo tax-cutters came along and slashed the public budgets that once supported the public schools. Now we have predictable blowback from that bit of stupid in the form of ponderous student debt burdens. That could be addressed by a QE-style program targeting student loan assets instead of mortgage assets. But we'd still need to find a way to stop creating new student debt at anything like the pace we recently have been.
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Originally Posted by Opin_Yunated
Helping the 99% is the only way to create velocity in the economy.
Assuring a strong and vibrant middle-class is the only thing that has ever worked. None of the Keynes-hating heterodox pinheads of the past 40 years has seemed to understand any of this. To say that they have all been out of the loop would simply be too kind.
How can you not hit the mark with gems like "The U.S. economy will disappoint again" as predictions? Disappointment is subjective so there is no way to be proven wrong.
I'm going to go ahead and predict the weather this summer in my home town will disappoint.
I disagree with a large portion of what you write but especially this. A Federal give away program just encourages further reliance on the government and it certainly would not be fair for those who have paid off their debts or worked their way through college with little or no debt.
There is no such thing as "stagnating forward", and your fund analyst guy is straddling every point he tries to make. Sort of what psychics and fortune-tellers do. Meanwhile, there is no one I have ever heard of proclaiming that the US economy has never been better. Any sensible person however would note in one way or another that it is currently doing better than at almost any other moment since Bill Clinton left office.
The U.S. was in a recession, and the tech and energy bubbles popped, when he left office. Also, the workforce participation rate, particularly amongst the 25-54 demographic, is terrible, right now.
Things are worse now than they were 10 years ago, judging by the stats I see, and most of those stats come from the feds.
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