Between 1870 and 1913, the real GDP of the United States---as best they can estimate it----rose from $20 billion to $131 billion (1958$). That gain of 4.3% per annum compounded over 43 years is the highest on record for a continuous equivalent period of time. But here's the wonder of it. During that golden age of growth and prosperity, the US had no central bank and not even one episode of fiscal stimulus!
The Great Wall Street/Washington Con Job: The "Recovery" That Never Happened, Part 1
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David Stockman’s Contra Corner isn’t your typical financial tipsheet. Instead it’s an ongoing dialogue about what’s really happening in the markets… the economy… and governments… so you can understand the world around you and make better decisions for yourself.
David believes the world -- certainly the United States -- is at a great inflection point in human history. The massive credit inflation of the last three decades has reached its apogee and is now going to splatter spectacularly.
This will have lasting ramifications on how governments tax and regulate you… the type of work you and your family members will have available and what you get paid… the value of your nest egg… and all other areas comprising your quality of life.