[akamaka]

Let’s look at the numbers:

https://fred.stlouisfed.org/series/FYOIGDA188S

Seems not ideal, but also not terrible. We have much less of a hole to dig our way out of than we did in the 1990s. Certainly doesn’t look like a crisis. The recent jump seems entirely caused by the response to the Covid crisis and not really a structural problem.

[yep31]

Unlike now, in the 90s the US had no competitors with equally strong industrial capacity.