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|User Info||Cato Prints Reality On Education; entered at 2012-03-25 18:50:10|
The gubberment is promoting excessive leverage and malinvestment to create bogus growth. The bubble strategy is what you've got when you don't have enough. It's either that, or pay folks for doing nothing. Oh, wait... But at least with bubble growth, some legitimate investment also occurs versus paying people to sit around and do nothing. And nobody goes back and subtracts bogus consumption and investment out of past bogus GDP so everything looks great, even though its not.