The average real rate during the GM years was 1.9 percent. Given the factors I’ve described, it seems hard to avoid the conclusion that the average real rate looking forward will have to be negative.
So, the accumulated, current losses seem to be near 1.9% of GDP growth, at the maximum. That is like living with two points of extra unemployment forever, sort of like being in the Californian Socialist State.
These are the delayed losses from 17 Trillion dollars of bailouts to worthless friends of various presidents. State socialism is our debtors prison.
However, Thirty years of political undemocratic crap from national parties is nothing, compared to the Civil War. Americans been there, done that. The American Middle class will emerge again!
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