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As seen in the following chart, I really don't think we're going to make it back to the top of the parabolic trend channel any time soon.
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It would seem that businesses (in comparison to consumers) have just about had their fill of Bernanke's Free Money Spell.
Money Spells: Cast a Free Money Spell
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See Also:
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Source Data:
St. Louis Fed: Custom Chart
4 comments:
This is a keeper. I will file it in my "Best Economic Indicators Ever" folder.
It is the ultimate supply side argument. My Liberal, Keynesian, Progressive, Europeanist friends snort at me and point to Lord Krugman, every time I mention supply side.
This indicator is proof that business investment comes first when solving the chicken egg first dilemma.
Joseph Constable,
On the one hand, I am not a fan of "trickle-down" economics. Based on rising income and wealth inequality, not much seems to trickle.
On the other hand, I am not a fan of "Lord Krugman" either.
In general, I don't think either camp offers solutions for what ails us, at least over the long-term. Just opinions of course.
I'm just saying if business isn't good then nothing is good no matter how egalitarian the system attempts to be. That is a fact.
Joseph Constable,
I would argue:
1. It is in the best interest of any given company to outsource/automate every single job away. It helps the bottom line. It makes business good.
2. It is not in the best interest of *any* company to outsource/automate every single job away if every company succeeds in doing it though.
Over the long-term and in general, American consumers need American jobs in order to buy goods and services. That is also a fact.
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