This whole mess is a supply-side, productivity shock.
What has convinced me? Twitter.
Apparently they went from 400,000 tweets a quarter in 2007 to 100 million in 2008. Coincidence? I think not.
My apologies to Kydland and Prescott for how long it took me to come to this realization.
Procrastinating on December 7, 2016
8 minutes ago