“Money Dominates”
“Financial panics are usually followed by sharp economic snap backs. The post-Panic of 2008 has failed to follow this typical “V-shaped” economic recovery pattern. After almost two years, the U.S. economy remains mired in an anemic recovery, with a current 2.4% year-over-year rate of growth. This paltry growth rate doesn’t even reach the U.S.’s long-term trend rate, and is well below the sizzling growth rate we should be observing (6%-7.5%). The picture is much the same in Europe, where growth is even more anemic.”
Steve H. Hanke
Globe Asia, August, 2010.
Image by jscreationzs / FreeDigitalPhoto.net.
