- U.S. On Track To Reclaim Lost Jobs...In September 2017!
- Revolt of the Bourgeois - Tea partiers are mad as heck, and they’re letting the world know — politely
- How Do You Stop an Elephant Charging? - Dems are running out of time to find an answer
- Spreading Hayek, Spurning Keynes
- New Study Says Cash for Clunkers Was … a Clunker
- BEWARE VoteVets.org > Soros/BHO/Dem Connected "Veterans Group" Backs "Ground Zero Mosque"
-Shaped Dreams Evaporate - The U.S. must brace itself for a long period of below-potential growth:
With growth nearly stalled, an unstable disequilibrium arises that is likely to tip the economy into a double-dip recession. The unemployment rate climbs, the budget deficit widens because of automatic stabilizers, home prices keep falling, bank losses are much larger and protectionist pressures come to a boil. Stock markets could sharply correct, and credit and interbank spreads could widen as risk aversion increases. A negative feedback loop between the real economy and the financial system could easily tip the economy into a formal double dip: The real economy reaches a near-stall speed and risky asset prices correct downward, leading to a negative wealth effect, a higher cost of capital and reduced business, consumer and investor confidence.
Given political and fiscal constraints and banks' unwillingness to lend, we remain doubtful of the potential for policy to prevent a double dip. Even a new round of monetary and quantitative easing can provide limited stimulus. The real issue facing the U.S. is the need for balance sheet deleveraging and repair, and that will be a multiyear process. The U.S. must brace itself for a long period of below-potential growth. Read it all…
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