ubmitted by Tyler Durden on 06/12/2011 18:00 -0400
* Creditors
* Double Dip
* Federal Reserve
* Japan
* Krugman
* Larry Summers
* Obama Administration
* Paul Volcker
* Reality
* Recession
* recovery
* Reserve Currency
* Tax Fraud
* Unemployment
* Unemployment Insurance
Just under a year ago, we got the tax fraud, and the only remaining member of Obama's economic Titanic, praising the US recovery. His timing top ticked the economy, preceded the Hindenburg Omen by 10 days, and ushered in QE2. Now, we get his sidekick, long since departed after totally failing (we use the more polite F-form of the word) up at his job, writing the follow up, from the cushy confines of academia, warning America that unless there is a major fiscal stimulus (because presumably the monetary stimulus which everyone praised in the form of QE2 has now been proven to only be a boost to the stock market and a bailout of European banks), this once great country which once exhibited the world's reserve currency is on its way to another "lost decade." We wish Summers well: perhaps 3 of those who read the following drivel will take him seriously. Two of them are Krugman and Koo. We are taking bets as to who the third one will be...
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http://www.zerohedge.com/article/larry-summers-welcome-non-recovery-or-fiscal-stimulus-or-another-us-bust
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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