"jim rozen" wrote in message
...
In article , Ed Huntress
says...

This is no longer an ideological issue. Most of the "conservative"
economic
sources, ranging from Bus. Week to the WSJ to The Economist, have agreed
on
these points within the last few weeks. The rough consensus is that our
equilibrium unemployment rate probably will have to be raised by one
point,
due to trade imbalance and productivity increases combined, and that it
will
take GDP growth of over 4% just to stand still in terms of jobs.

The question is, can the gdp grow that much, when the
domestic market is shrinking from loss of wages?

It could. We tend to wish and buy our way out of recessions. We could do it
again.

However, there will be fewer people doing it, although they'll have a lot of
money in their pockets.

--
Ed Huntress
(remove "3" from email address for email reply)