Long-Term Outlook: Slow Growth And Deflation | The Big Picture.
The deepening recession and spreading financial crisis is the beginning
of the unwinding of about three decades of financial leverage and
spending excesses. The process will probably take many years to
complete as U.S. consumers mount a decade-long saving spree, the
world’s financial institutions delever, commodity prices remain weak,
government regulation intensifies and protectionism threatens, if not
dominates. Sluggish economic growth and deflation are the likely
results.
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Posted by: socialscientist | March 21, 2009 at 09:45 PM