Monday, June 20, 2011

Lost Decade, here we come

From Paul Krugman:

"What you see isn’t a recovering economy that may be stumbling; you see an economy that has stopped its free fall, but hasn’t really been recovering at all.

I’d say that the burden of proof right now is on those who claim that we aren’t on track for a lost decade."

I don't really have any thoughts to add, just a question...why are we making the same mistakes that Japan made in the '90s and we made in the '30s?

The answer surely lies in our HORRIBLE misunderstanding of economics. Yet there doesn't seem to be much of a movement to change that understanding. If you do want to understand what's going on, I suggest following the "Modern Money Primer".

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