"Whatever the new administration does, we're in for months, perhaps even a year, of economic hell. After that, things should get better, as President Obama's stimulus plan -- O.K., I'm told that the politically correct term is now "economic recovery plan" -- begins to gain traction. Late next year the economy should begin to stabilize, and I'm fairly optimistic about 2010."
Found at Alternet. Not exactly a rosy forecast, but sounds reasonable to me. Also makes a good point about how China may struggle without being able to export as much crap to out shores. And I like useless gadgets as much as anyone, but we probably do need to reduce our trade deficits by a large measure. We basically don't make anything anymore and are obsessed with buying shit, doesn't seem to be a sustainable position for an economy. Maybe if we can get everyone to stay sick and in poor health we can all get jobs in health care.
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