Jeez, you don't let a guy get a word in edgewise.
Okay, I see your point. If history was different, so could be the results. Granted.
But the "lag" should make at least intuitive sense to anyone. You can see it in the stimulus package, 830 billion dollars. Most will say it was dubious but even if it wasn't, there was a long lag.
I understand ER's point about there being "two economies"
To Mcfly, I didn't think it was necessary to go to the source to vet his numbers.