Sunday, October 2, 2016

Steve keen is always at least...two thought meters from a real insight

In a post that shall remain unlinked to
Steve can't get to the right framing even though he has it there in his left hand

Steve tries to explain the macro posses response to the great stag

When hey boys and struggle vixenish
it's the great stag itself that's in need of explanation
Once u  got the great stag lined up
The great financial crisis becomes its climactic event
In need of no additional explanation

We've been in the stag mode here in USA land
Since the end of the burns miller  recovery
And the onset of de industrialization
Ie the end to trade balanced domestic industrial production

When by stint of chronic trade deficits
And feeble industrial development demand
we entered credit bubble time
Bubble after bubble blown by
FED and company

Till the bursting of bubble 111
The great financial crisis