Posted on 08/15/2012 6:50:13 AM PDT by blam
GARY SHILLING: Only One Thing Will Revive This Economy
Sam Ro
Aug. 15, 2012, 7:53 AM
We recently reached out to our favorite economists and asked them: "What one thing would ignite this economy?"
But bearish economist Gary Shilling wasn't about to stray from his long-term thesis.
"The only thing that's likely to revive the US economy is time, the 5 to 7 years of it needed for deleveraging to be completed, especially in the global financial sector and among US households," he told us.
"Meanwhile, slow real growth of about 2% per year and more frequent recessions are to be expected. Ongoing economic weakness, despite massive monetary and fiscal stimuli, measures the huge power of private sector deleveraging."
We also asked Shilling if he could use his imagination a bit and come up with pie-in-the-sky, silver bullet type of fix for the economy that policy makers could employ.
He wasn't falling for that.
"There are no silver monetary or fiscal bullets to fix the economy, as witnessed by the tremendous efforts so far that have failed to restore meaningful growth," he said. "They are overwhelmed by deleveraging in the private sector."
So there you have it. See you in 5 to 7 years.
(Excerpt) Read more at businessinsider.com ...
the U.S. in hundreds of $Trillions underwater...
And we are going to pay it off in 5-7 years? BWAHAHAHAHAHAHA
No.
It will just be a new con game that starts in 5-7 years...
the U.S. is hundreds of $Trillions underwater...
And we are going to pay it off in 5-7 years? BWAHAHAHAHAHAHA
No.
It will just be a new con game that starts in 5-7 years...
5 to 7 more years? Add the 4 years we've already gone thru
and thats longer than the great depression. *yikes*
Gary Shandling? I really liked his show!
Somehow he missed the idea that reversing the massive regulatory load that has been laid on American business by the Obama Administration might just do the trick in less than his 5 to 7 years.
I would start with the energy sector. You may not be able to repeat the North Dakota Miracle in every state but that should be the goal. Put Sarah Palin in charge of the EPA and watch the magic happen.
I am not an economist but know if we would tap our energy resources that would restart our economy ( see North Dakota).
Every penny at the pump is 1.2 Billion in hidden tax
Repactoric the money Corporations have overseas.
Obama screams about Stimulus yet we have almost 2 Trillion being held out of the US Economy.
You don't think people don't want to put the money to work?
Ignite the economy? Look back to the Reagan years. Confidence in a pro-business government that won’t get in the way will revive the economy.
5 to 7 more years? Add the 4 years we’ve already gone thru
and thats longer than the great depression. *yikes*
that is because it is worse. There is no human solution to this, though they will try. And everything they try makes it worse. Their final fix will be to monetize it, which is almost like defaulting. This will become apparent when hyperinflation kicks in, with the same result as defaulting: War. A big one.
Somehow he missed the idea that reversing the massive regulatory load that has been laid on American business by the Obama Administration might just do the trick in less than his 5 to 7 years.
Nope. It’s bigger than that.
This clarifies and is funny. It takes the actual national numbers and removes the same number of zeroes from all of them to put it in numbers and a perspective you can wrap your head around.
Somehow he missed the idea that reversing the massive regulatory load that has been laid on American business by the Obama Administration might just do the trick in less than his 5 to 7 years.
http://www.youtube.com/watch?v=Li0no7O9zmE
“Repactoric the money Corporations have overseas.”
Capital flows to highest returns, net of taxes and burdensome regulations.
It is staying overseas for a reason. As soon as a government tries it force it back,companies will redomicile to other countries - out of reach... And rightly so.
And the balance is remitted to people that want to kill us.
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