Recently a Japanese economist visited Washington to explain his government’s “five year economic outlook.” A five month outlook might have been more credible. Yet with surprising hubris, the economist forecast inflation and GDP five years out.Read more
On the issue of public debt, Washington is experiencing what psychologists call “learned helplessness.” The financial news is so relentlessly terrible that people have become numb to it and assume nothing can be done to regain control over our fate.Read more
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