For those market boosters who are prattling on about the possibility of a “jobless recovery,” I offer an invitation to join me for a breakfast of “fat-free bacon,” “eggless omelets,” and “no-carb bread.” As unappetizing as such a meal may sound, it would nevertheless offer more substance than the oxymoronic concept of an economic resurgence without job creation.
The way that the US has gotten itself out of a depression, historically, has been through a war.
That is why you are hearing sabre rattling in the halls of power in this country aimed at Iran, Somalia, Yemen, etc., because many of those people in power see no other way out.
Cutting taxes across the board would do wonders for this economy, but - of course - that would be logical.
Requiring the US government to not spend more of our tax dollars than it actually takes in - and not drowning in debt which We the People may never be able to repay - would also do wonders for this economy. But again, that would be logical.
And this is why you see members of congress itching for some war, any war, to distract the American people from the wreckage they have made of this economy and get the economy humming again.
But they have forgotten one crucial fact here: the US has lost its ability to manufacture, as most companies have offshored this function to cheaper places on the planet to get products made.
And without that manufacturing base, we are going to have an horrendously hard time finishing what we started, if there is another large-scale war.