Zombinomics and volatility
By Spengler
We aren't going to have another financial crash. In fact, nothing at all is going to happen. Forecasting the United States economy is about as exciting as predicting next quarter's gross domestic product in 1957 Poland. You want to know what's going to happen, comrade? Read the Five Year Plan. With 40% of US personal income coming from transfer payments, it's almost nostalgic to call it capitalism.
The so-called American economic recovery won't die, because it's undead. It was a zombie to begin with. Equity investors during the past six weeks came to the collective conclusion that the US is not in the early phase of an economic recovery, but in the endless middle of a structural slump, in the term of Nobel Prize winner Edmund Phelps.
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By Spengler
We aren't going to have another financial crash. In fact, nothing at all is going to happen. Forecasting the United States economy is about as exciting as predicting next quarter's gross domestic product in 1957 Poland. You want to know what's going to happen, comrade? Read the Five Year Plan. With 40% of US personal income coming from transfer payments, it's almost nostalgic to call it capitalism.
The so-called American economic recovery won't die, because it's undead. It was a zombie to begin with. Equity investors during the past six weeks came to the collective conclusion that the US is not in the early phase of an economic recovery, but in the endless middle of a structural slump, in the term of Nobel Prize winner Edmund Phelps.
READ MORE
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