honey ill change... honest i will

hamilton over at econbrowser sees a change in the economy from gloom to neutral

what? neutral?

nothing would please me more than to know i am wrong

hamilton and many other world class economists say the sun begins to shine

but im sorry i dont buy it

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what has changed???

few if any of the fundamental causes of this breakdown have been corrected

we got to this disaster because we exported jobs and production to lower cost nations

then used the home atm and other methods of borrowed money to buy their goods

we tried to overcome stagnant and falling wages with borrowing

we cut taxes and launched two wars and a prescription drug part d all unfunded

while the asian tigers and ME oil giants were awash with capital looking for a place to invest at a high safe return

our financial giants on wall street and k street deregulated banking and pushed (yes thats right like a drug dealer)

pushed innovative debt instruments and especially derivatives till they came out of our ears

we wallowed in mis-allocated capital (that was borrowed) and prices of homes, commodities and equities etc skyrocketed

then the collapse of counterparty trust in a willey-coyote moment brought the system crashing down

that is the road runner-cliff- notes history of how the shit hit the fan
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someone tell me, what fundamentals have changed.... (fundamentals)
as the rope, that caught our fall into the abyss, frays