And Makes This Amazing Prediction
To the amazement of many of us, and to the horror of conservatives the future economic conditions in
look more promising rather than less promising.
This is a result of many things, most of them somewhat accidental and
beyond the control of politicians. For
example, the U. S. is having
huge oil and natural gas production increases, health care costs are slowing
their inexorable rise and because the U. S.
did not go the way of Europe and implement
austerity until later in the recovery, growth is positive and the deficit is
Tyler Cowen, one of the more articulate conservative economists is quoted this way (on
web site of course).
“The great stagnation will end for a lot of people but not everyone,” Mr. Cowen said. “I think there will be great breakthroughs but the distribution of those gains will go to owners of capital and intellectual property.”
Mr. Cowen also added that “water is wet, the sun rises in the east and anything that does not change is likely to remain the same.”