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Today I had a realization. Amidst all of the confusion, all of a sudden the economic picture came clear. I was driving in the car this morning and a certain calm came over me.
\\nI\\u2019ve been wondering for weeks why there is conflicting economic data and I was unable to make sense out of it.
\\nI know what you\\u2019re thinking, Victor you need to get a life. When a moment of clarity about the economy is exciting to you , you need therapy.
\\nSo without any apologies, I can hardly contain my excitement.
\\nWe are hearing that the US economy is strong, that the economy in Europe is unexpectedly strong. Even in Canada the economy is strong. Employment is strong and we have 50 year low unemployment.
\\nBut there is one thing I know about the economy. I treat it like a law of physics.
\\nWe all learned about Newton\\u2019s second law of physics back in high school. An object at rest will stay at rest and an object in motion will remain in motion. This speaks to the law of conservation of momentum.
\\nWe don\\u2019t have a corresponding law in economics, but I think the world needs it. That law simply stated is
\\nFor every unit of economic output, there is an equivalent unit of energy consumed somewhere in the world.
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\\nHost: Victor Menasce
\\nemail: podcast@victorjm.com
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