Brilliant economists agree with me, we're screwed:
The Man Who Called the Last Two Bubbles doesn’t blur his opinions. He believes the United States is stuck in a period of plodding growth that will end only with either a massive stimulus program or a 20-per-cent to 30-per-cent decline in the value of the greenback.
“I don’t see either happening in the short term,” says Dean Baker, a member of that rare breed – the one-handed economist. As co-director of the Center for Economic and Policy Research in Washington, he has spent years delivering fearless pronouncements on where the economy is headed next.
I should note that I find it personally painful to be a prophet, particularly as nobody pays me for my brilliant prognostications and deep analyses of the profound and hidden patterns of our culture. Nonetheless, I will continue to sound the tocsin at least until the next version of Xbox 360 is released. After that, I make no promises.
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