Larry Kudlow is right. When it comes to inflation-adjusted private investment, the current level of private investment is at a level first reached way back in October 1999. The peak in this metric, which Larry Kudlow likens to our seed corn, was reached at the beginning of 2006. The current level is nearly 16 percent lower than that. That's a depression in investment dating back 6 years, and arguably 13 years, and goes a long way to explaining why George W. Bush and Barack Obama rank at the very bottom of the list of post-war presidents for economic performance. View the chart and data here.
