The problem is that no-one in government has either the guts or understanding, or both, to do what is needed. The last time anyone had the courage was during the Regan [sic] administration. Fed Chairman Paul Volcker stopped pushing counterfeit money into the system and let interest rates soar. In spite of incredible public hostility Ronald Regan [sic] stood by him. Of course, the healing process was painful but recovery followed and the USA, as usual, dragged the rest of the world back with it. Nothing has changed here. Recovery in the USA is still required before the global economy can recover.
But "real" recovery in the USA is no-where in sight.
Too much debt and we keep piling on more debt. The national debt is almost $12T and counting plus we have unfunded liabilities out the ying-yang. That much debt can never be repaid. Recovery is, at best, a very long way off.
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