zanardm

10 Reasons Christina Romer Is a Good Choice to Head the CEA

Again there is the assumption that if you just appoint well qualified people, and do all the 'right just so' moves, every thing well resolve sooner. Anything that was done in the 30's, in my view, probably did not shorten it's duration. And if there was no WWII, perhaps it would have been longer. So for this severe downturn (gas prices at embargo level of '73!, as indicator), it will take a long time. Economic cycles are longer than political cycles. Piling on debt since 80's, and the government continuing to max out on piling on debt, is wrong. We will pay dearly for this, by assuring a lengthening of this extreme deleveraging environment. One generation (25 yrs) is my call to deleverage completely. Why? Because the politicians will ignore astronomical debt. Good luck to all of us. Only 'Adam Smith's' creditors (via capital market) can stop the DEBT JUGARNAUT, by there economic votes.