You would have to be blind to have missed the 'econ wars' that have been waging around here. Well, it looks like opinions are tipping towards the U-shaped, "lost decade" type of "recovery" rather than the V-shaped happy bubbly type of recovery.
Nouriel Roubini, the New York University professor who predicted the financial crisis, said the chance of a double-dip recession is increasing because of risks related to ending global monetary and fiscal stimulus. [snip]
"There are risks associated with exit strategies from the massive monetary and fiscal easing," Roubini wrote. "Policy makers are damned if they do and damned if they don’t."
Government and central bank officials may undermine the recovery and tip their economies back into "stagdeflation" if they raise taxes, cut spending and mop up excess liquidity in their systems to reduce fiscal deficits, Roubini says. He defines "stagdeflation" as recession and deflation.
http://www.bloomberg.com/...
It's starting to look like the "debate" about the "recovery" is over: we are looking at a Japan-like "lost decade" and this recovery is unlike any previous recovery besides the Great Depression.
Roubini, a professor at New York University's Stern School of Business, said it appears the global economy will bottom out in the second half of this year, and that U.S. and western European economies will likely experience "anemic" and "below trend" growth for at least a couple of years.
http://www.reuters.com/...
U-shaped recovery. Actually, more like a an L for the foreseeable future. My bold.
Oh yeah, I must want this to happen right? Wrong, I come to Daily Kos for reality checks, not cheerleading.