Economy Cannot Grow Fast Enough

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Editor’s Comment: 

Bernanke’s comments corroborate years of projections on this blog and by others including Johnson and Roubini.  We are kidding ourselves if we think that the economy is going to improve without addressing the housing problem.  In order to bring unemployment down to a level where the threat of financial chaos is truly diminished aggregate demand must increase significantly.  In our country aggregate demand is largely determined by consumer demand.  Consumer demand exists only where consumers have sufficient resources available to them to buy things.  

 At one time credit was relatively unimportant since median income for the middle class was sufficient to run a household on one income and still purchase the goods and services that the economy had to offer.  For the last 35 years median income has either been stagnant…

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Author: timothymccandless

I have spent most of my professional life helping people who were being taken advantage of by systems they did not fully understand. As an attorney, I represented consumers against predatory lending practices and worked in elder law protecting seniors from fraud. My family lost $239,145 to identity theft, which became the foundation for my seniorgard.onlime and deepened my commitment to financial education. Since 2008, I have maintained a blog at timothymccandless.wordpress.com providing free financial education. Not behind a paywall. Free, because financial literacy should not cost money. I trade with real money using the exact strategy described in this book. My current positions: Pfizer at $16,480 deployed generating $77,900 per year net. Verizon at $29,260 deployed generating $51,000 per year net. Combined: 293% annualized pace. These are my only active positions. Not cherry-picked.

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