We've got stagnitis

Here we have the master pricer, Larry Summers tell us, at 2.15, that we got a case of secular stagnation. Good god, what is that? Look at treasury interest rates, the ten year and the one year.  Headed straight down.  So either we have very low monetary inflation or we have slowly declining growth. Our boy Larry posits the latter, slowly declining growth. Well, this caused a hoopla, because it means the lower bound cannot be avoided by some monetary trick that produces inflation. So all the big shots are taking this talk around the webosphere. All the bigshot economists are talking.

What's the deal with secular stagnation? It is a long term event that was excluded from the economists model for many years, passed them by, as if they failed to read my  blog even. That long term decline is now causing them to reverse the sign on their many government favorable coefficients, its making them think austerity.

Also, this is a Big Bear Roar back at out Bubbles Yellen.