Because FAKE money financed a lot of fake or temporay jobs in the early to mid 2000's. When the fake money is gone there are no jobs. The economy isn't going reset this quickly but we sure are on the right track
Brown,
I've felt for a longtime that the only real way out of the abyss we are in is by inflating our way out. I'd don't agree with this and all involved but that's another thread I'd love to discuss anytime with anyone. That said, it seems the inflation factor/influence is starting to ramp up more and more from the
State's propaganda mouthpieces. So many, like Paul Krugman so often do, they all point to the end of WW2 and the standard of coming out of a deep recession or depression for those inclined to that word but here's a serious problem. After WW2, the productive capacity of the major producers of the world between WW1 and WW2 otherwise in truth known as WW Pt. 1 and WW Pt. 2, was all but wiped out except for the US, some in Canada and the land down under. But for the most part the US was the one stop shop for the globe for the next several decades. This productive capacity monopoly allowed the effects of inflation to be tempted by production growth and profits and as the globe advanced out of destruction, our national capacity was incapable to keep up even with booming growth. It seemed as no ceiling existed.
As the economy and GDP grew so to did the ability of the gov't to grow it's debt with little to no ill effects. Everybody got in the game and every interest was able to serve itself while politicians got fatter and the hand of gov't turned more and more to a boot in the face. That part of the economic cycle caved in 71' when Bretton Woods died but the importat part is that we don't have productive monopoly as we did at the close of 1945'. The question now is, can we hold monopoly on something even better and that is the very black substance on which all things are driven? They won't admit it but the name Dick Cheney may go down in history as important a figure to economy and societal productivity as Alfred Sloan was to production and Fredrick Taylor was to scientific management and central planning. See
episode 1 here for the Taylor/Central Planning story. Red Staters would do well to watch and see exactly where the so-called Soviet Style system they claim Obama is installing actually came from.
If American industrialists saw the vision of war in handing them monopoly of productive capacity in WW parts 1 & 2, then what might they think is the best method in getting a monopoly of the very thing that drives all productive capacity in the first place? If one believes (whether true or not) such is possible, at what lengths might one go, what calamity would one endure knowing at the end he'd own the goose who lays the golden egg!