Robert Samuelson Keeps Arguing with the Data About Consumer Spending and Investment

Robert Samuelson again gives us his data free explanation for the weak recovery in his Monday column. He contrasts the current weak recovery with the strong recovery of the eighties. He notes the Fed's efforts to boost the economy in both periods, then tells readers:

"In the 1980s and ’90s, consumers and businesses were eager to spend. The Fed accommodated that demand but did not create it. By contrast, consumers and businesses now are conditioned to be wary. Having lived through events — th...