The U.S. Economy Is About to Grow Explosively, Or Whatever | Benzinga.com: "According to some analysts, the 'recovering' U.S. economy is poised to enter a phase of explosive growth. Other analysts see evidence that the bogus 'recovery' (all Fed stimulus 'hat' and no organic growth 'cattle') is teetering on the edge of implosion from any number of causes: high inflation, declining home values, high oil prices, etc.
My view? Whatever. The real economy is so detached from the one presented by official data and the stock market that 'growth', explosive or modest, is a matter of managed perception, not reality.
As for the implosion, Central State intervention and massive spending/credit creation has already limited it to a decline heavily smoothed by extended unemployment, food stamps, zero interest rates, Federal Reserve purchases of Treasuries and mortgage instruments, and massive Federal spending on everything from fighter jets to Medicare.
The relentlessly managed perception is that the 'spot of bother' circa 2008-09 is history, and the situation has been restored to normalcy, i.e. a rising stock market, super-low interest rates and unlimited Central State borrowing."