Invictus over at The Big Picture blog has an excellent post, with neat graphs and everything. I don’t do graphs much because I don’t think graphically, if that makes sense. My mind always feels constricted when a whole slice of universe with a multitude of variables is reduced to just comparing one or two. It’s why I don’t much trust models, except in the very broadest sense. There’s always the fat tail.
He does a fairly good job of making my case for me regarding the demographic forces in the US that are helping to suppress aggregate demand. He doesn’t point out how employment rates are making a huge impact as well, but hey, you gotta come here for something.