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Tag Archives: depression

Life in the “Income Depression”

Newsflash! Things are not good economically.

Most people make significantly less in inflation adjusted terms than they did prior to the 2008 Crash. And it should be noted that the economy prior to the Crash felt pretty hollow too. People forget this now. But nearly everyone was living off of the housing bubble in the Bush years. That’s why it hurt so bad when housing ate it.

Remember the sea of realtors? At one point – around 2006 – it was basically impossible to go to a barbecue without meeting a realtor or a mortgage person. Idiot sons across the country were making money hand over fist, buying Suburbans, and getting in on rental properties. Where did all those people go? Actually don’t tell me. That the depression has wiped out this crowd is one the few positive outcomes of the last few years in my estimation.

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Japan has fallen victim to the Keynesian scam (And so have we)

Japan had “a lost decade.” Then it had another. We are past the halfway mark of the American “lost decade.”

Keynesianism has failed utterly and completely. It’s not that there wasn’t enough stimulus. It’s that the concept of “stimulus” is bunk. It’s real “voodoo economics.” It is a cult. A dream. And as is increasingly obvious even to the Keynesians, a nightmare.

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