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What do you think this chart means? (The post-recession economy is worse than we thought, Fortune) It means the U.S. economy is in the throes of the lousiest recovery since World War 2. “But how can that be”, you ask? “After all, hasn’t the Fed kept interest rates at zero for seven years while hosing... Read More
When the financial bubble burst in September 2008, U.S. and European governments responded by shifting bank losses onto their own balance sheets. The pretense is that real growth cannot resume until the banks and speculators are “made whole.” To cover the cost of bailing out the banks, governments now are trying to run budget surpluses.... Read More
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