I had not planned to comment further on politics or the economy, but recently, in my geek mode, I was cruising for iPhone apps and downloaded the one for The Economist. I was so impressed with the first editorial I read that I decided to pass it along, as a pertinent view from an expert outside our fray.
If you favor the view that austerity is the way to prosperity in the short term, you’re likely to be disappointed because this editorial echoes others I have read suggesting that we have recently been asking the wrong questions.
The article is from the August 6, issue, “America’s Economy: Time for a Double Dip?” http://www.economist.com/node/21525405. You may have to register to see it:
If America does manage to avoid recession and slowly begins to pull out of this mire, it will be testimony to its underlying strengths. It still has huge advantages over other rich countries: a younger, less-taxed population, a more innovative economy and, for now at least, the dollar as the global reserve currency. If only it had the political leaders to match, its chance of avoiding recession would be far better than one in two.
And now I return to my usual tricks, in particular, reading a gripping adult fantasy that I plan to review later this week.