Mortimer Zuckerman: The Great Recession Has Been Followed by the Grand Illusion

WSJ ^ | 3/25/2013 | Zuckerman

[9YearLurker]

No, but it would be amusing to see.

[1010RD]

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.

[9YearLurker]

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.

[Jack Hydrazine]

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.

[ExTxMarine]

...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!

[9YearLurker]

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

[txrefugee]

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.

[Max in Utah]

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.

[MrB]

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.

[pieceofthepuzzle]

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.

[nascarnation]

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.

[Sir Napsalot]

>>> 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.

[CommieCutter]

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

[Common Sense 101]

SAY IT... SAAAY ITTT!

Best scene in the movie...