The Planet Will Continue To Cook.

Unsustainable Situations Usually Go On Longer Than Most Economists Think Possible. But They Always End, And When They Do, It's Often Painful.

If We Discovered That, You Know, Space Aliens Were Planning To Attack And We Needed A Massive Buildup To Counter The Space Alien Threat And Really Inflation And Budget Deficits Took Secondary Place To That, This Slump Would Be Over In 18 Months. ... There Was A Twilight Zone Episode Like This In Which Scientists Fake An Alien Threat In Order To Achieve World Peace. Well, This Time, We Don't Need It, We Need It In Order To Get Some Fiscal Stimulus.

If You Can Create Even The Illusion Of High Profitability For A Few Years, Then When The Thing Collapses You Can Walk Out Of The Wreckage A Very Rich Man.

What Saved The Economy, And The New Deal, Was The Enormous Public Works Project Known As World War Ii, Which Finally Provided A Fiscal Stimulus Adequate To The Economy’s Needs.

A Snarky But Accurate Description Of Monetary Policy Over The Past Five Years Is That The Federal Reserve Successfully Replaced The Technology Bubble With A Housing Bubble