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View Diary: Breaking: BLS, Fed, BEA, et al "Overstate Strength of Economy" (289 comments)

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  •  List of causes (11+ / 0-)

    The list of causes is long - Reagan, Greenspan, China dollar peg, Bush2 because it has taken almost 30 years of screwing up economically (living beyond reality) to get to this point. Anyone who thinks this is anyway close to over is deluding them selves.

    There is a hole in the boat that bailing faster will not cure. The hole has to be fixed and so far all the attention has been focused on bailing faster (even as the hole gets bigger).

    I can live with doubt and uncertainty and not knowing. I think it is much more interesting to live not knowing than to have answers that might be wrong- Feynman

    by taonow on Mon Nov 09, 2009 at 05:45:36 AM PST

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    •  That's right. Plus, there is a problem (2+ / 0-)
      Recommended by:
      taonow, PsychoSavannah

      with the carry trade right now.  There is a big bubble there and it will burst at some point. Roub
      ini talks about it here:

      A Federal funds rate near zero, monetary easing and government purchases of long-term debt have given rise to a carry trade of the U.S. dollar. The carry trade is a strategy in which an investor sells one currency with a relatively low interest rate, then uses that money to purchase a different currency that’s yielding higher. The investor then pockets the difference between the rates.

      If the people lead, the leaders will follow.

      by Mz Kleen on Mon Nov 09, 2009 at 07:49:46 AM PST

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    •  you left out the Great Heist of 2008. nt. (0+ / 0-)

      America is the only nation in history which miraculously has gone directly from barbarism to degeneration without the usual interval of civilization.

      by Badabing on Mon Nov 09, 2009 at 09:29:32 AM PST

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