I Remain Absolutely Gobsmacked by the Magnitude of the Crisis…

The financial crisis, output collapse, failure to support the economy enough to create a strong high-pressure recovery, and subsequent new normal appear to have robbed America of 10% of it economic productivity from now until the end of time.

What forces, shocks, and processes are in train to get us back to the “old normal” trend? And is there any reason to believe that any such will show up in the future?

I don’t see any…