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Fiscal stimulus is not an economic boom
Wages declining against cost of living is not coming out of a recession
COVID was a natsec operation to soft-decouple from China and begin re-shoring
You can't have "growth" if you make less stuff
Tech stuff today isn't recycled ad-tech that's consumer stimulative, its efficiency gains thats production stimulative. Supply side vs. Demand side.
We've been wringing out fiscal stimulus since 22, ffs Bitcoin and the Russell are basically flat over the last year. PE's are down. New jobs are being created in the private sector as opposed to public. There's nothing to correct, this is the healing stage.
Globalists hate healing though, I wouldn't rule out a dump caused by another fabricated black swan either in the form of going hot with China or a junkie withdrawal that manifests as a global debt crisis that US ultimately comes out better for it.
Yeah..no. The US has had one of the longest runs of economic boom since 2013 when it came out of the 2009 Recession. Not only was a correction well over due by 2019, everything got hijacked by COVID response in 2020 and made things even more off-kilter. The problem is that economic growth is often measured by jobs and average wage increase, which is misleading. You can have significant economic growth without that wealth being shared, ergo "jobless recovery" etc.
The big problem that has occurred is that aside from tech baubles, we really haven't manufactured anything really new to drive American business and manufacturing since the 1970s. Robotics had a lot of problem, but China is now beating us in that regard. So, we're back to tech, which is just moving money around with recycled software and Internet ideas. Again, we are overdue for a correction, but we have not been in a depression at all.