RE: Nascent. I’ve recently heard you (twice) use the term “nascent” in reference to the economic recovery and I realized, as a father of two, that the recovery is two years old, by most counts, so no longer nascent rather a toddler. True, with the toddler, you get to sleep through the night but your waking days are filled with the constant surveillance of the child to make sure she (two girls, btw) doesn’t get herself hurt so the level of concern is equal to a baby, but as the child struggles to walk upright, she will inevitably destroy everything she can reach in order to stay upright. They spit up less, too. Not sure how that fits into the metaphor. In a round about way of saying, if you leave a toddler alone in a room, when you come back, she‘ll be the tallest thing in the room having knocked everything else down and will stand there proudly in front of you with this “See how big I am?” look on her face, which, let’s face it, is priceless. See how big we are? We’ve knocked every economy around the world to it’s knees with QE but that doesn’t mean we are growing and I thought that was the larger point of this. So, maybe you’re right after all, the recovery is still nascent after two years, intellectually, capable of so much destruction yet not growing. Good word choice. All the Best, TVA Ps. I also heard you use the word “exogenous” which I actually had to look up, so kudos. Like you, people often marvel at the word usements I structure…
