Inflation and interest rates were pretty low during the recent booms, too. Granted, the interest rate wasn't as low as it is now, but nowhere near the record highs back in the days of stagflation.

And granted, a 75 percent productive capacity usage is a factor, but it was at about 82 percent at the height of the boom, and I don't think the annual rating ever got above 88 percent.

And the government still can't shovel money to consumers without taking it from some other area of the economy. You submit that the other areas of the economy don't need the money, and I submit that they do, and I guess that's where we can leave it.