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Older economies have limited capacity growth, that's given.
And that's another ridiculous statement. What is limiting US capacity of anything?
What is limiting US capacity of anything?
When you're a young country... infrastructure build is massive, because you're building out for a growing labor force.
When you're older country, you start doing things like repair because a lot your infrastructure build out is limited
This is why countries always grow really fast when they're young and when they get older their growth models fall because they're big.
Here in America we were awesome because we had a mass immigration for decades which lead to massive booms in prime age labor force in 1980's and 1990's and now you see that growth peaked in 2007
My next article will explain why we haven't been able to to get to the 50 year average in housing starts up to 1.5 million that everyone thought would be so easy in this cycle
Demographics matter and as you can see below so does labor force growth
When you're a young country... infrastructure build is massive, because you're building out for a growing labor force.
When you're older country, you start doing things like repair because a lot your infrastructure build out is limited
This is why countries always grow really fast when they're young and when they get older their growth models fall because they're big.
Here in America we were awesome because we had a mass immigration for decades which lead to massive booms in prime age labor force in 1980's and 1990's and now you see that growth peaked in 2007
Yes, thanks for that lesson. My question was what is limiting our capacity of anything? Labor, capital?
Because what you forgot to mention in your lesson was that older countries are much, much more efficient than younger ones. All those productivity gains every year mean that US capacity is actually growing every year. It takes much less labor to produce today vs. 100 years ago.
We grew our economy from 2 trillion to near 19 trillion in 1980's and 1990's no it wasn't Reagan or Clinton it was awesome prime age labor force growth
Labor, capital?
Every question you have just think of these 2 charts
Both of you two aren't versed in demographic economics and that's fine not a lot people but that's my thing.. prime age labor force growth matters
I hate to tell you this but we are never going to agree on American economics ever not for second
Both of you two aren't versed in demographic economics and that's fine not a lot people but that's my thing.. prime age labor force growth matters
You think it's just magic, don't you? If there are people aged 25-54 than the economy magically grows.
Others, like me, understand why it has worked this way in the past and why it may NOT work that way in the future.
Gold Bugs have their thing and you Liberals have your thing
But Jesus if you think America sucks you must hate the entire world then
If there are people aged 25-54 than the economy magically grows.
You have to ask your hubby to let me take you out to dinner and I can explain it over a nice meal :-)
You have to ask your hubby to let me take you out to dinner and I can explain it over a nice meal :-)
Actually I know and I will be happy to explain it to you. I'm not sure you'll get it, but I'd be happy to try.
Actually I know and I will be happy to explain it to you. I'm not sure you'll get it, but I'd be happy to try.
Is that a Yes!!! awesome
Is that a Yes!!! awesome
Next conference you have in the Chicago area, let me know.
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Unlike 2007, prime age labor force peaking won't be an issue, No crash coming!
Next recession will be very normal
No over investment thesis in this cycle
Don't get caught in the everything is a bubble mentality
#Economics