Quote:
Originally Posted by RummyBoy
Basically, in GFY you guys need to look at:
(1) Who believes the figures.
(2) Who doesn't believe figures.
Then compare the two sets of people in each category. One set is likely to be more intelligent, more well informed, higher net worth and overall higher class than the other set.
Simply put, there is a reason why we still have zero % (crisis level) interest rates over six years since the crisis. That reason is that the financial crisis is not over, it has just been patched over with QE and is bobbing along nicely. However, there is not enough global growth so you have countries trying to steal each others growth through competitive devaluations. In this environment, the US is still probably in the best position in terms of the western economies but it's not a "great" economy right now.
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I do not believe the crisis is over.
I've said this before - This is not a four or eight year problem. It's a ten to fifteen year problem. I am forty-six years old and I've never seen us brought to our knees like this. Everything just stopped.
Is it a "great economy"? For right now - yes, it is. Maybe not compared that what we considered a great economy ten years ago, but for right now it is the best we can do.