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FEB 22, 2013 - Zero Hedge

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David Rosenberg Goes In Search Of A Positive Exogenous Shock

From Gluskin Sheff's David Rosenberg In Search Of A Positive Exogenous Shock The 1950s and 1960s were influenced by a major positive shock to the nation's capital stock via the ramping out of the interstate highway network. This massive build-out of transportation infrastructure led to massive improvements in productivity, allowed for huge cost cuts for the business sector and led to a secular rise in labour mobility. The 1970s was spent largely fighting inflationary imbalances in the economy but then the 1980s and 1990s came around and the facts that Microsoft went public in 1986 and ... Read More

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