As reported yesterday - - the lowest level since World World II:
Gross capital investment by the public sector has dropped to just 3.6 per cent of US output compared with a postwar average of 5 per cent, according to figures compiled by the Financial Times.
Three schools of thought - (1.) This low it can only go up, or/and (2.) The point in history when it should and needs to go up is also the point in history of an enormous entitlement burden, or/and (3.) Look for the public sector to fill the widening gap. The politics of #2 and the economics of #3 will govern this outcome.
If your are 75-years old, do you really care about this graph?
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