If you follow the financial news you will find it using temporary excuses for every set-back.
For instance, every year there will be several bad economics reports blamed on the weather. As if every winter storm is “unprecedented”.
Likewise, all efforts by the government and Federal Reserve at fixing an economy are temporary as well. Which is all fine and dandy when the economy is suffering from something that is indeed temporary. Remember how 9/11 got blamed for a recession that was already 7 months old?
But what if the problems with the economy are not temporary? What if they are structural?
How many years of extremely expensive “temporary fixes” must we endure before we take a good, hard look at the basic assumptions of the current economy? Two years? Three years?
We are currently approaching the four years mark for “temporary” fixes in the credit markets with no end in sight.