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by Mike Whitney
Global Research, January 8, 2010
– 2010-01-07
“Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” — John Maynard Keynes
There’s no denying that the economy is getting better, but will it last? Many economists don’t think so, including experts at opposite ends of the ideological spectrum, like Paul Krugman and Martin Feldstein. They think the economy will begin to fizzle sometime in the latter part of 2010 when Obama’s $787 billion fiscal stimulus runs out and consumers are forced to pick up the slack in demand. That’s a safe bet, too, considering that unemployment will still be somewhere in the neighborhood of 9 percent and households will still be digging out from the $13 trillion they lost during the crisis. And the fact that the Fed is planning to end its quantitative easing (QE) program in early April, doesn’t help either. Continue reading
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