On the day when the US economy reports negative GDP growth for the first quarter of 2015 it is important to remember where money and growth comes from.
Graph and Quote from Brad DeLong:
"Arithmetically, the U.S. economy is depressed because residential construction and government purchases are well below previously-expected trend levels..."
Graph and Quote from Brad DeLong:
"Arithmetically, the U.S. economy is depressed because residential construction and government purchases are well below previously-expected trend levels..."
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