Busted: Bankers and The Global Economy

June 4, 2010

Why We’re Falling Into a Double-Dip Recession

Filed under: business, corporatism, credit, economy, government, inflation, money, recession, stagflation — Tags: , , — digitaleconomy @ 5:12 pm

The only reason the economy isn’t in a double-dip recession already is because of three temporary boosts: the federal stimulus (of which 75 percent has been spent), near-zero interest rates (which can’t continue much longer without igniting speculative bubbles), and replacements (consumers have had to replace worn-out cars and appliances, and businesses had to replace worn-down inventories). Oh, and, yes, all those Census workers (who will be out on their ears in a month or so).

~ Robert Reich

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