Brahm

Compared with Canada, U.S. Economy Looks OK

There are two exceptions from me on Grace's worldview as a noted economist. She has not commented whether the Greenspan era carryover worldview about "core inflation" is acceptable to her or is realistic. Ask any middleclass household-head, who does the family shopping and end-of-the-month book-balancing, whether the whole thing is a realistic view. It is likely he or she would gnash his/her teeth and mutter a few curses, provided he/she had heard enough of Greenspan and his bunch of admirers. as stewards of the US economy.

I also wonder if Grace has been to a gas-station, grocery store , a dress-store, or even to dinner at a middle-class family restaurant in the last year. She would have a much better appreciation of our rate of inflation, core or otherwise. I guess she must frequent only those places in NY where the Gucci-bag toting, chablis guzzling and brie smelling crowd entertain themselves after a hard NY investment day. Trust no famed economists to tell you what life is in middle-class trenches!