The title is Obamanomics: R.I.P. and the data are nothing no one knows:
The previously bullish Fed finally and openly acknowledged that sluggish growth is the long term new normal for America. Secular stagnation is here to stay. The growth rate has limped out of the 2008-09 recession at a 2 percent pace now for seven years. The Joint Economic Committee of Congress tells us a normal recovery gives us about 3.5 percent growth and the Reagan and JFK booms were closer to 4 percent. So the GDP today thanks to President Obama is about $2 to $3 trillion smaller than it should be. This is roughly the equivalent of losing the entire annual output of every business and worker in Michigan, Ohio and Indiana combined.
And on and on he goes. If you elect your own version of Chavez, none of this should come as a surprise. But it is not that they didn’t see it coming, they have no lens through which to make sense of what is going on. How ridiculous is this:
The lesson of the Fed under Ben Bernanke and now Yellen is that easy money is no economic solution to this decade-long malaise. As economist Larry Kudlow puts it: “The Fed can print money, but it can’t create jobs.” Our central problem now is not with our monetary policies. It is severe regulatory and tax drag.
Of course it’s with your monetary policies and your fiscal policies and your regulatory policies and your tax policies. They are blinded by their own economic theories, and it is apparently not suicidal for Hillary to say that her intention is to carry on where Obama left off.