My letter to the NY Times re: Perhaps...

Re: Once More, Economy Exhibits Weakness

Dear Sirs:
Perhaps "the economy turned in another disappointing quarterly performance" because it never has recovered.  Perhaps "the electorate remains skeptical that things are getting better" because they live in the real world and know that things are NOT getting better.  Perhaps the so-called economic recovery is nothing more than the Fed measuring its own increase in the money supply.  How long will the Fed stick to its discredited Keynesian prescription of increasing aggregate demand through monetary intervention?  The recession began six years ago.  Surely even the most dyed-in-the-wool Keynesian must begin to question his view of how an economy operates.