The Great Drag
Posted: Mon Aug 15, 2011 12:34 am
I've always thought that one of the effects of the war on poverty and the entitlements was a huge drag on productivity and the investments to enhance productivity by the constant draining effect of massive government spending and intervention. Turn out that I was right:
http://macromarketmusings.blogspot.com/ ... actor.html
Welcome to the other side of the great society, the great stagnation.
http://macromarketmusings.blogspot.com/ ... actor.html
Welcome to the other side of the great society, the great stagnation.