This LA Times article best illustrates the vast stupidity currently infecting the global media and economists. On the one hand, the article points out that Britain and Germany are planning to cut back their spending with government austerity measures, while the US is worried that such actions will stall the recovery. On the other hand, markets have grown jittery because of the cut backs being signaled by Germany and Britain, while the markets have grown wary of the mounting US debt.
So you see folks, you can't win with these fake-smart people, because there is no answer from them as to how to resolve our way out of the global recession into solid growth; if you introduce austerity measures, you're damned; if you continue to stimulate via federal spending, you're damned.
You can't move forward, you can't move backward, you can't remain in inertia. The media and the other fake-smart people have difficulty determining the proper way to go anywhere these days!
And yet another reason to be resigned to a double-dip recession coming next year.
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