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A free floating commentary on culture, politics, economics, and religion based on a passionate commitment to the truth and a desire graciously to refute that which is contrary to it….
"He must hold firm to the sure word as taught, so that he may be able to give instruction in sound doctrine and also to confute those who contradict it."
--Titus 1:9, Revised Standard Version
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There is an optimistic scenario for the U.S. economy: Europe gets its act together. The pace of world growth quickens, igniting demand for U.S. exports. American politicians agree to a credible compromise that gives the economy a fiscal boost now and restrains deficits later. The housing market turns up. Relieved businesses hire. Relieved consumers spend.
But there are at least two unpleasant scenarios: One is that Europe becomes the epicenter of a financial earthquake on the scale of the crash of 1929 or Lehman Brothers 2008. The other is that Europe muddles through, but the U.S. stagnates for another five years, mired in slow growth, high unemployment and ugly politics.
No one would intentionally choose the second or third, yet policy makers look more likely to stumble into one of those holes than find a path to the happier ending.
Read it all.
Filed under: * Culture-Watch Globalization History * Economics, Politics Economy Consumer/consumer spending Corporations/Corporate Life Euro European Central Bank Housing/Real Estate Market Labor/Labor Unions/Labor Market The Banking System/Sector The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- Politics in General House of Representatives Office of the President President Barack Obama Senate * International News & Commentary Europe --European Sovereign Debt Crisis of 2010
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