The Skewed Interpretation

GDP, for example, has been slow to negative since the financial crisis. To maintain the profit margin (resisting deflation), big corporates get bigger, merging and acquiring, gaining market share by reducing the number of firms in the marketplace, which is deflationary, but it does not get that interpretation.

NAM’s interpretation is that there is too much regulation, taxes are too high, and wages are too high for American manufacturers to be globally competitive. If we reduce regulation, taxes, and wages, we will have higher GDP and higher inflation, which is the catalyst for higher interest rates.

NAM’s interpretation of the skew (the long-tail recovery) pollutes the environment, increases deficit spending, raises the interest rate on debt demanded against falling wages and salaries for 99.9% of us, and feels the Bern!

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About griffithlighton

musician-composer, artist, writer, philosopher and political economist (M.A.)
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