Three years ago (May 2010) interviewed with a portfolio manager for a job, I told him that aggregate demand would stay depressed and growth rates low, because the rise in debt had lead to an investment in overcapacity. I told him that while I didn't know what the average age of the capital stock was, my guess was that it would be around 15, and that therefore we would need at least 10 years before investment would rebound and become an underpinning source of strength in the US. I also told him that unemployment would remain high and that the investment corporations would be doing all over the world would be to shed workers.
I didn't get the job. But I gave you Sage advice didn't I Brad?