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Discussion: (7 comments)

  1. juandos

    Yes as long as there are delusional people in charge

  2. Benjamin Cole

    The Fed believes the psychic income it derives from microscopic inflation rates is equal to the economic growth lost by the monetary noose around the nation’s economy…

  3. mesa econoguy

    Whether they “accept” it or not is irrelevant – they’ve voted themselves 1.5% growth (in good years), just like Europe. We now have it, and will for the next 50+ years, if the country stays together that long.

    Nice job, morons.

  4. Todd Mason

    “Imagine how much further along the economy would be if the world’s most entrepreneurial nation had, like Canada, avoided so many crippling and costly financial shocks.”

    In the pantheon of howler statements this one is right at the top. There are five banks in Canada although the Royal Bank of Canada could argue persuasively that there is really only one. What’s more, Canada is heavily regulated and likes it that way. If Toronto’s city planners have signed off on your condo tower you are a. close to the subway b. close to shopping c. a lock on making money d. a developer with deep pockets and platoons of lawyers.
    But suppose you do fail. You can zip into bankruptcy with a prepackaged 11, right? Most bodaciously wrong. I had a friend who was in the hospital after car wreck when the bank called his wife to talk about the prospects for a trustee taking over his business.
    So go ahead, imagine how much better an entrepreneurial US would have fared with Canada’s banking system. While you are at it, imagine that the moon is made of cheese.

    1. juandos

      Well I don’t imagine Canada is blessed an excessive number of these kinds of legislators that do set the regulations laws in this country…

  5. Charlie

    Yes, the drag on the economy by the growth in regulation is staggering. The “tax” of inflation to benefit the financial sector hurts the rest of the economy. The true source of negative pressure on the economy is the income tax. Adopting the Fairtax will unleash the American economy and return good paying jobs that have been exported to locations where productivity is not taxed by the US government.

  6. Tom Sullivan

    The American people will accept the greatly reduced growth rate until Republicans make a huge deal of the issue. As it is, the Takers turn out to vote more than the Makers. It should be framed as the choice between the current 2% rate doubling the economy in 36 years, or a 4% rate doubling in 18 years. Or maybe a 5% rate doubling in under 15 years, giving an 8- fold increase during a 45 year work career.

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