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Mortimer Zuckerman: The Great Recession Has Been Followed by the Grand Illusion
WSJ ^ | 3/25/2013 | Zuckerman

Posted on 03/26/2013 3:33:37 AM PDT by pieceofthepuzzle

The Great Recession is an apt name for America's current stagnation, but the present phase might also be called the Grand Illusion—because the happy talk and statistics that go with it, especially regarding jobs, give a rosier picture than the facts justify.

The country isn't really advancing. By comparison with earlier recessions, it is going backward. Despite the most stimulative fiscal policy in American history and a trillion-dollar expansion to the money supply, the economy over the last three years has been declining.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: economy; jobs; recession
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To: Undecided 2012

No, but it would be amusing to see.


21 posted on 03/26/2013 5:32:01 AM PDT by 9YearLurker
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To: 9YearLurker

The trouble is how we measure GDP. Government is part of it and must be accounted for, but we also need to offset the drag misallocation and misappropriation of capital cause on private enterprise. The real action in successful economies comes from unfettered private enterprise.


22 posted on 03/26/2013 5:39:41 AM PDT by 1010RD (First, Do No Harm)
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To: 1010RD

There’s also the tipping point re: federal debt. E.g., if the dollar loses its reserve currency status that will be a huge hit across the economy.


23 posted on 03/26/2013 5:50:25 AM PDT by 9YearLurker
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To: wesagain

Our year national budgets have been ahead of GNP/GDP since 1980. That’s when we went into failure mode. It just took us this long to make it obvious.


24 posted on 03/26/2013 6:03:09 AM PDT by Jack Hydrazine (I’m not a Republican, I’m a conservative! Pubbies haven't been conservative since before T.R.)
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To: 9YearLurker
...if the dollar loses its reserve currency status that will be a huge hit across the economy.

If/When this happens, our money will be worth less than Weimar Republic dollars! We will become Zimbabwe overnight and you will spend $199 for that $1.99 loaf of bread!

I truly do not think people understand how close to the precipice we currently stand!
25 posted on 03/26/2013 6:08:59 AM PDT by ExTxMarine (PRAYER: It's the only HOPE for real CHANGE in America!)
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To: ExTxMarine

Ha ha—well, maybe not quite THAT bad, but...


26 posted on 03/26/2013 6:16:42 AM PDT by 9YearLurker
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To: pieceofthepuzzle

One of the worst Pollyannas talking up unicorns and rainbows is CNBC”s chronic ObamaBot, Steve Leisman. One has to wonder if even he can believe the joy juice he doles out on Squawk Box every morning.


27 posted on 03/26/2013 6:41:39 AM PDT by txrefugee
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To: COBOL2Java
The frog's just gotten used to the extra warm water in the pot, is all.

And most of the LIVs are still willing to believe the propaganda.

28 posted on 03/26/2013 6:42:40 AM PDT by Max in Utah (A nation can survive its fools, and even the ambitious. But it cannot survive treason from within.)
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To: Max in Utah

Understand that the people that are causing the crash, that know it’s coming,

have an exit strategy which includes blaming YOU for the discomfort that the EBT/LIV crowd is going to experience.


29 posted on 03/26/2013 6:49:31 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: txrefugee
You know, I have respect for everyone in any job, and definitely have respect for business people. That said, sometimes some of them make broad sweeping pronouncements about that which they know little. For example, I've heard business and investment people say that ‘a healthier work force is a better work force, and therefore Obamacare will help the economy’. There are so many ridiculous and objectively wrong aspects of that comment that one would have a hard time knowing where to start, but some of these guys actually believe this crap.
30 posted on 03/26/2013 7:11:57 AM PDT by pieceofthepuzzle
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To: 9YearLurker

I think the US as a whole is just like that family in 2007 riding a wave of fake prosperity based on maxxed out credit cards and helocs on a house with negative equity.

Instead of a McMansion and two leased luxury SUVs, we have election-buying entitlements.


31 posted on 03/26/2013 7:16:26 AM PDT by nascarnation (Baraq's economic policy: trickle up poverty)
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To: 1010RD

>>> The real action in successful economies comes from unfettered private enterprise.

The problem is that ‘successful’ economy eventually grow big enought to attract attentions from TPTB.


32 posted on 03/26/2013 9:14:56 AM PDT by Sir Napsalot (Pravda + Useful Idiots = CCCP; JournOList + Useful Idiots = DopeyChangey!)
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To: Common Sense 101

Good answer....I like the way you think..


33 posted on 03/26/2013 1:42:13 PM PDT by CommieCutter
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To: CommieCutter

SAY IT... SAAAY ITTT!

Best scene in the movie...


34 posted on 03/26/2013 3:28:52 PM PDT by Common Sense 101 (Hey libs... If your theories fly in the face of reality, it's not reality that's wrong.)
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