November 29, 2017

The economy has reached its destination!

From the news: The U.S. economy is running at its full potential for the first time in a decade, a new milestone for an expansion now in its ninth year. The chart illustrates “vividly”. To get that “encouraging” result, the CBO has applied the saying: “If the mountain won’t come to Mohamed, Mohamed must go to the mountain” in reverse, with the “mountain” (potential) coming to “Mohamed” (actual output). Yellen will be leaving with the feeling of “mission accomplished”, even if that is far from the truth. The charts below compare the recessions of 1990-91 and 2007-09 and the two… Read More