Fake Boom, Everything Bubble

Let us repeat, again. The US economy is not accelerating—-it’s just running out a business cycle that’s getting ever longer in the tooth; and which is beset by mounting levels of debt and speculation, which are heading inexorably toward a day of reckoning. And that’s especially true with respect to the alleged “blow-out” 3.2% GDP number reported this morning. While all seasonally-maladjusted, annualized run rates […]
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