"...despite massive amounts of fiscal and monetary policy stimulus, the best that the economy could do was grow at a compound annual growth rate of 3.46% in the 12 quarters of recovery/expansion. As the table below shows, economic growth in this expansion underperformed the average growth in previous post-war expansions by 140 basis points."And I'm sure these folks are raving lefty liberals....
Offering truth beyond the mere black and white.
"Pessimism of the intellect, optimism of the will." -- Antonio Gramsci
"The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness." -- John Kenneth Galbraith
"The whole problem with the world is that fools and fanatics are always so certain of themselves, but wiser people so full of doubts." -- Bertrand Russell
Wednesday, February 16, 2005
From the Economic Research Department at The Northern Trust Co. in Chicago:
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