Tag Archives: PSST theory
What Needs to Happen Before We See a Big Recovery?
In a Bloomberg article last May, Caroline Baum summed up the economy nicely in a single question: Four-and-a-half years of an overnight rate near zero and aggressive securities purchases by the Fed have succeeded in raising asset prices. The question … Continue reading
Posted in Uncategorized Tagged Arnold Kling, breadwinner jobs, bubble finance, Caroline Baum, creative destruction, household savings rate, Joseph Schumpeter, private domestic demand, PSST theory, real disposable income Comments Off