"Inflation dynamics defined the traditional postwar US business cycle. Recoveries continued and sometimes even accelerated until they were murdered by the Federal Reserve with inflation control as the motive"
--larry s
so the pigster sez all the post WWII expansions were killed off by the fed deliberately
ie murdered with afore thought
by cutting the rate of increase in the credit flow
why ?
to control wages
oh ya core product price increases
one and the same really
the only one of these murders boldly and openly admited to at the time
was the volcker dammerung
conclusion
all the others like the present stag were double talked
"soft landings that flop are not murders even if they kill "
but do fed bosses or their prompters really believe in soft landings
or do they know its a kill shot they're delivering
on another point :
"Our current situation is very different. With more prudent monetary policies, expansions are no longer cut short by rising inflation and the Fed hitting the brakes. All three expansions since Paul Volcker as Fed chairman brought inflation back under control in the 1980s have run long. They end after a period of overconfidence drives the prices of capital assets too high and the apparent increases in wealth give rise to excessive borrowing, lending and spending.
After bubbles burst there is no pent-up desire to invest. Instead there is a glut of capital caused by over-investment during the period of confidence – vacant houses, malls without tenants and factories without customers. At the same time consumers discover they have less wealth than they expected, less collateral to borrow against and are under more pressure than they expected from their creditors"
larrry sez expansions post WWII were fed killed until
the last three iie the greenspan era
since then we've reverted to the older pre 29 type
bubble pop economy with its spontaneous implosions
S and L pop
dot pop and lot pop
so now the fed doesn't murder expansions
it merely perpetuates stagnations or booms
as international requirements demand
