Green shoots in the US? You have to be kidding, Mr Economist – not when investment has continued its fall off the cliff. [Hat tip Jeffrey Tucker at the Mises Blog.]
“The green shoots that people think they see,” says economic expert Peter Schiff, “don’t reflect any genuine economic growth. They reflect the initial reaction to the stimulus. If you shoot someone up with heroin, you’re gonna get a reaction before there is a withdrawal.”
And just notice how each of the “investment-led booms” of recent decades correlates to a period in which “The Fed” was pumping up the money supply. And how each of the busts – each of which those periods of monetary pumping were intended to fix – has been progressively larger than the last one.
You really can’t fake economic reality, can you. No matter how large your printing press.