Learning Curve

The Deflation/Inflation/Stagnation Debate

Thank you all. This is a discussion we urgently need. One qualification on the article... Wolff states that, "The public neither heard about, nor seemed interested in this from 2001-2007." Perhaps the public was ignoring the "impending doom". But many many others, including the writers here, did hear about this and & hear & hear.
We saw the statistics about the American personal savings allocation going down. We witnessed that the Japanese personal savings rate was high and that no matter the stimulus, they still would not spend.
We saw the underemployment, the growing disparity of wealth. We heard about the 'new economy' and supply side.
Meanwhile, we voted against our own self interest and that of our children.
It was painful to watch the lack of response by these "wizards of wall street" and certain Administrations back to 1980.
While it may be true that the wealthy feel none of this, who, exactly is going to recharge the stock values in their portfolios once the buying public is completely tapped out and Disney Land, medications, electronic devices, education, Chinese toys for the kiddies, food from south of the equator and shiny new automotive transportation are no longer in the consumer’s budget? Politicians and magnates can’t continually hurt the citizenry with bad policy and expect the US to remain a world power.