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Part of the problem is the focus on a notion of broad aggegate demand. Aggregate demand, such as GDP, is a result, again a symptom, not a cause. The focus must be on production and the measures you should look at should be measures of production, productivity and 'work' not consumption...

The Money Multiplier Chart is a dramatic picture of the collapse of monetary velocity in the economy. The graph is a ratio, as I explained earlier in this thread, of M1 (basically money in circulation) and M1 plus reserves. Essentially it measures the growth of excess reserves on the Fed...

Didn't mean to offend with that 'spurious' comment. We have no history together and I don't know anything about 'denninger.' Your comment was 'spurious' on its face but your response here is thoughtful and intelligent. I don't agree with your apparent soft appreciation and tolarance of...

Of course paying off debt is deleveraging...that is a tautology...'deleveraging means paying off more debt than you initiate. Observe aggegate private sector debt in the U.S. which is declining in an accelerating curve at historically unprecedented rates right now. The fed has assets on its...

One of the problem with modern 'economics' is that has evolved seperate from 'finance.' So, economic theorists traffic in unsupported assertions of mysterious unexplained psychological basis to consumer and producer behavior (the same thing in my mind). Clearly, as the post above implies there...

Mr. Dodge, who are you...you are the only person I have encountered who sees clearly what is going on...and I have been reading and talking to quite a lot of people who are supposed to know this stuff. You have it right. As for the spurius comment after your post...the money multiplier is...