"The fact of the matter is, we have much higher rates of employment today than we did in 1954, but our level of taxation is considerably higher," said Gary Burtless, a labor economist at the Brookings Institution.

That current ratio is $6b per day of NEW debt created to generate $1b of GDP.Your reasoning has been the passive logic historically, that we've always had debt, and "some" economists think this is bad.

They have keynesian economists (in white lab coats) with fancy equations and computer algorithms.

Well, I'm no economist, but I'm damn glad I always buy at a discount.

Many economists cite the repeal of the Glass-Steagal Act as a catalyst for what followed and I said as much here in a post on The Real Estate Dispatch (http://www.biggerpockets.com/renewsblog/2008/09/22/that-fateful-day-%e2%80%93-november-12-1999/).

Ah, one of the greatest economists of our times!

I’m no economist, so maybe this will make sense.

I was just watching a local news station with a panel of economists and a few of them agreed saying "in 18 months we the people are going to own several of the nations biggest banks."

Remember how many very highly-educated economists and business-leaders and other so-called 'experts' got us into this mess.

Can the BP economists here explain them?