Succinct Appraisal of the Current Economy
Check out this short interview of the former chief economist of the IMF and current Economics professor at Harvard, Kenneth Rogoff. I don’t know of this person, but his analysis is pretty clear and easy to understand, and seems plausible. Check it out, but basically he’s saying that if we do everything correctly (big “if”), we should see about four years of recession, and start to see better days around the end of 2011. But at that time, we will have spent $8-9 trillion to get us out of the recession and banking crisis. He seems pretty sure that at that time, the plan is to use inflation to deal with the giant accumulated debt. So those folks who were smart enough to hold cash and avoid the stock market and housing bubbles will eventually get screwed too I guess!
If you don’t already watch the weekly show Now on PBS yet, we highly recommend it.
