The recession is over . . .?

-------- Original Message --------

Subject:	[SPAM]RE: The recession is over . . .?
Date:	Fri, 30 Apr 2010 12:35:35 -0700

To: Jas_Jain
Subject: The recession is over . . .?
Date: Fri, 30 Apr 2010 11:37:33 -0700

http://imperialeconomics.blogspot.com/2010/04/is-recession-over.html

 

What happens to private GDP when the gov't stops borrowing from future private economic activity and tax receipts, cutting checks, and sending hundreds of billions of dollars to realtors, mortgage brokers and servicers, auto dealers, appliance stores, and banksters? Only a Keynesian could say with a straight face that the recession is over and the economy is "recovering" or "expanding" with the gov't running a deficit of 16% of private GDP and gov't spending and household debt service as a share of private GDP at 65-70%.

 

You mean neo-Keynesians, like Paul Krooksman, right? The salt-water types or the sweet-water variety? Is the recession over? Yes, but the depression is not! Neo-Kons won a small battle with the loss of third of the army but the war is far from over. They will lose the war with shear exhaustion. Amazing misleaders, I mean witchdoctors. Throwing money at the problem only buy you time. Buy me enough time for the next election, please. That is all that a democratic politicians care about and neo-Kons can deliver! The rest is in God's hands. And God isn't happy with Americans' profligate ways.

Jas