Mostly rational politics, with occasional rants about how a few crazy Republicans are ruining the country.
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Monday, June 12, 2006
Years of stagnation?
In the early part of this year, I was predicting a troubling economy, and a potential collapse.
Unfortunately, as the year progressed and the bull market in commodities, metals, and emerging markets (all of which I'm invested in) accelerated, I think I somewhat lost track of my long-term argument that George Bush has totally trashed our economy (accelerating deficits financed by foreign borrowing, an unstable current account balance, tax cuts, etc.).
The recent market has made me remember. And now this graph, from Barron's, is very worrying:
Could we be in for a decade or two or low growth, stagnant stog market, and recession? It's well within the realm of possibilities.