Just as during the Carter years, during the Bush years productive businesses suffered a capital deficit as money flowed into the dead money sector that is housing.
Allison, quite unlike Republicans, Democrats and a Federal Reserve desperate to resuscitate the housing market, understands that the rush to housing was the recession for excessive growth capital flowing into the dead money sector that was housing over the productive economy.
Far from dead, our manufacturing sector is the world's largest, with 5% of the world's population producing five times their share in industrial goods.