The Real Fiscal Cliff – Industrial Production Falters In Advanced Economies
As the European crisis evolves, this is likely to be an increasingly relevant topic of discussion for U.S. policy makers. Advanced economies are experiencing a noticeable decrease in industrial production. Germany and the U.S. are not immune from this phenomena, as the mounds of debt, and all the fraud that facilitated it, continue to pull productivity out of the real economy. I’d call this chart more of a reflection of the moral hazard of failed policy across the globe, as plutocrats keep kicking the can down the road to save a corrupted status quo. This is simply the bank bailouts coming home to roost.
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