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Resigning Ourselves to Reduced Economic Growth August 3, 2011

Posted by geoff in News.

I’m not optimistic about our economic future. I don’t believe that we’ll ever get a handle on our debt problem, our regulatory problems, our education/training problems and our enfattened government problem. I do believe that increasing international competition for customers, resources, and jobs will continue to slow our growth henceforth.

And I believe this:

People talk about 4 – 5% GDP growth as if it were the norm, and they base all their budget projections on the economy returning to that sort of growth rate. Absurd.

We haven’t seen consistent 5% GDP growth for 35 years.

If it weren’t for the dot.com boom, we wouldn’t have seen consistent 4% GDP growth for 25 years. Our economy is settling in at 2 – 3% growth for the foreseeable future.


1. geoff - August 3, 2011

Sorry about the DOOM vibe. Just thought that we should get realistic.

I promise that my next post will be more upbeat.

2. Cathy - August 3, 2011

Thanks, Geoff. I live in Literal-ville and appreciate your views on it.

3. Mitchell - August 3, 2011

I was talking with my boss yesterday and he’s hoping for Japan’s “Lost Decade” stagnation as the best alternative to the econopocalypse that I see barreling toward us like a 400 trillion ton debt train.

4. daveintexas - August 3, 2011

Bernanke weighs in.

5. geoff - August 3, 2011

I was talking with my boss yesterday and he’s hoping for Japan’s “Lost Decade” stagnation

We’ve pretty much already lost a decade. I think we can look forward to a twofer.

6. Cathy - August 3, 2011

It continues to amaze me that so many experts KNOW we are being bamboozled and still the masses are being shoved toward the precipice.

This helped my sanity this morning.

*AND…listening to my buddy Ken Emanuelson talking about our training this weekend here in my community*

7. kevl - August 3, 2011

I am not resigned to reduced economic growth.
I am resigned to the coming apocalypse.

8. Cathy - August 3, 2011

Hi Kevl!

How you doin’? IYKWIMAITYD.

9. Cathy - August 3, 2011

am resigned to the coming apocalypse.

*stockpile ammo, water, food… in that order*

10. daveintexas - August 3, 2011

Camp Geezer.

It’s our only hope. If we bring ammo, he might let us in.

11. Russ from Winterset - August 3, 2011

*goes downstairs to check inventory & condition of the ammo stash*

*looks at map*

I’m gonna need a bigger truck.

12. Cathy - August 3, 2011

*reconsiders developing high protein energy bar recipe*

*pulls food dehydrator out of storage*

*reviews recipes for beef jerky and smoked sausage*

*puts seeds from heirloom tomatoes in envelope*

*gets on internet to investigate adoption of wild mustangs*

*checks stockpile of camping gear in garage*

13. geoff - August 3, 2011

*buys Fritos, Tab, & beer*

14. Mitchell - August 3, 2011

I have a question for you bitter-clinger-gunnutter-teabagger-terroristetarians: my next weapon will be some sort of shotgunnery boomstick – suggestions?

15. geoff - August 3, 2011

Shop Smart – Shop S-Mart

16. kevl - August 3, 2011

That old saccharin high is back! Love it!

17. daveintexas - August 3, 2011

What do you want to shoot/who do you need to kill?

If it’s just home defense kind of shotgunnery most people consider 12 gauge, a Mossberg or a Remington 870.

18. Retired Geezer - August 3, 2011

I would recommend a Pump shotgun. Mossberg 500’s are nice and inexpensive. You can usually get 2 barrels with it.
You can actually shoot a pump faster than you can shoot a semi-auto shotgun.
Yep, come up to Camp Geezer.
Skinbad and Mrs. Skinbad are ‘Award Winning Shooters’. I’m sure the potential is there for the rest of ya.

19. Michael - August 3, 2011

Uh, when civilization as we know it implodes, I’m going to Belize, not Camp Geezer.

The winters are, well, different. You need less firewood.

20. Tushar - August 3, 2011

Mitchell, the current hot favorite is Kel tec KSG.

21. daveintexas - August 3, 2011

Yeah, but never buy release 1.0 of anything.

22. Retired Geezer - August 3, 2011

Dave’s right but I still like my KelTec .32. It was featured on Michael’s Pool Table display.

I really want one of the 22mag KelTec semiauto pistolas. They hold 30 rounds but are pretty hard to come by.

23. Tushar - August 4, 2011

RG, do you have the link to that pool table photo? I love that photo.

24. Absurdistani Hoards at the Gates of Vienna - August 4, 2011

“I live in Literal-ville”

We will crush you and hear the lamentations of your women.

[Which, ah, would be you, girlfrien’.]

25. Absurdistani Hoards at the Gates of Vienna - August 4, 2011

“You can actually shoot a pump faster than you can shoot a semi-auto shotgun.”

Citation, please.

26. redc1c4 - August 4, 2011

get a double rail punp (870, 500 or a Model 12 Winchester if you can find one)… a side by side such as a Stoeger Double Defense is handy for light house keeping chores, and has a certain presence that is good for PsyOps.

the local gun store has a Winchester 1897 on the rack for $300, but i don’t have the cash flow to go there.

besides, at a certain point in time, as much as i love them, enough is enough, and you’re better off stocking ammo and reloading components.

27. MGCC - August 4, 2011

Well, it depends what your definition of growth is…employment, corporate profits, real personal income growth are all tied to real rates of economic growth, and we’ve been looking at 2.5-3.0% average rates since Reagan.

Debt and Deficit to GDP, however, is compared to nominal GDP, which includes inflation. And there the post 1961 average is 6.0-6.5%.

28. Our Dwindling GDP Growth | Innocent Bystanders - March 19, 2017

[…] made this point several years ago (and even earlier here), but this chart I lifted from Zero Hedge makes it even more […]

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