The Non-Recovery Recovery
The Fed’s have thrown the Keynesian sink at the economic problem. The largest fiscal and monetary stimulus known to the world has not produced a recovery, despite what the media and Administration want you to believe.
Here is just another example of unsustainable government spending that produces nothing, yet is counted as improving GDP.
H/T EBW
Global Economic Intersection estimates in “Personal Transfer Payments and GDP,” the accumulated value of “extra” transfer payments Americans received from 2008 to 2010 — that is, the amount over and above the long-term trend – worked out to about $569 billion.
By blogger John Lounsbury’s reckoning, that suggests the “recovery” the bulls keep harping on about — which, aside from the nasty little unemployment problem, isn’t that great to begin with — is less than it seems.
Syrin
The Swedish Chef
craig
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