Bloomberg: "While the expansion has been normal, 'output has been held back by woeful productivity growth and an unusual decline in labor-force participation'..."
You can't have it both ways. Either the expansion has been normal, or it has not. If output has been held back, then expansion has not been normal.
See Skipping a stone across recent years
No comments:
Post a Comment
The spam filter's been acting up again lately. I'm aware, and checking it often.
Oh, what fun they must have with this at Blogger!