Realistically, growth was far above where it should have been for close to seven years because of the Fed induced lending boom, insane lending standards, and extreme leverage and risk taking everywhere epitomized by "liar loans" and zero-percent down housing. Now is the payback time. We should be expecting growth to be below trend for the next seven years, with a few outliers tossed in for good measure to keep everyone excessively optimistic.
1 And it came to pass at the end of two full years, that Pharaoh dreamed: and, behold, he stood by the river.
2 And, behold, there came up out of the river seven well favored kine and fatfleshed; and they fed in a meadow.
3 And, behold, seven other kine came up after them out of the river, ill favored and leanfleshed; and stood by the other kine upon the brink of the river.
4 And the ill favored and leanfleshed kine did eat up the seven well favored and fat kine. So Pharaoh awoke.
5 And he slept and dreamed the second time: and, behold, seven ears of corn came up upon one stalk, rank and good.
6 And, behold, seven thin ears and blasted with the east wind sprung up after them.
7 And the seven thin ears devoured the seven rank and full ears. And Pharaoh awoke, and, behold, it was a dream.
8 And it came to pass in the morning that his spirit was troubled; and he sent and called for all the magicians of Egypt, and all the wise men thereof: and Pharaoh told them his dream; but there was none that could interpret them unto Pharaoh.