Loading ...I remember him from decades ago. I gave it an honest chance, I read the whole story, describing his book of views. Then and now. But unfortunately I couldn’t find any valuable info. He describes many results but no causes, like the MAIN one imports EXCEEDED exports for 50 years. Wages in deflation for 50 years.
Parts and comments
(notwithstanding what he calls the secular problem of the depressed labor force participation rate).
Comment: Masses wages too low.
Now, a frail financial system can’t take a rise in interest rates, as in past periods. The lack of a robust roster of market makers results in the system being ever-more dependent on the Fed, he emphasizes
Comment: Masses wages too low.
the Fed has done more harm than good by keeping rates too low for too long,
Comment: Masses wages too low.
His new book ends on the note that “you can’t go home again,” in the sense that the clock can’t be turned back to a simpler time.
Comment: Masses wages too low.
credit distress is becoming visible in the auto-loan sector, with the asset-backed securities market once again playing the role of enabler, just as it did in the housing debacle last decade.
Comment: Masses wages too low.
Complete story:
http://www.barrons.com/articles/dr-dooms-diagnosis-of-the-banks-the-fed-and-the-economy-1491020967