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I still think the extremely rapid rates of growth, year after year, for a full decade are problematic. Our current macro situation calls for expansionary policy, but there is no precedent in a developed economy for this sort of velocity over this duration.
Really?
I can think of - and checked it with the stats - a precedent in a developed economy with about twice the Sanders 5% growth rate, in real GDP, over a decade. Hint: Not China, which has done better than that, but some might not call China developed. But a well-known China-sized country, speaking a language Whorfianly close enough to the Chinese weltanschaung that some common sayings are taken directly from Chinese. :-)
Probably Italy, Japan, Germany, Korea could provide examples too.
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From Dorman's post:
I still think the extremely rapid rates of growth, year after year, for a full decade are problematic. Our current macro situation calls for expansionary policy, but there is no precedent in a developed economy for this sort of velocity over this duration.
Really?
I can think of - and checked it with the stats - a precedent in a developed economy with about twice the Sanders 5% growth rate, in real GDP, over a decade. Hint: Not China, which has done better than that, but some might not call China developed. But a well-known China-sized country, speaking a language Whorfianly close enough to the Chinese weltanschaung that some common sayings are taken directly from Chinese. :-)
Probably Italy, Japan, Germany, Korea could provide examples too.
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