Tuesday, September 7, 2010
David Rosenberg has outlined, in his latest letter, the 13 reasons with this so-called recovery is actually a depression.
Rosenberg sums it up like this:
This is what a depression is all about — an economy that 33 months after a recession begins, with zero policy rates, a stuffed central bank sheet, and a 10% deficit-to-GDP ratio, is still in need of government help for its sustenance.
Each one of these 13 reasons is more damning and highlights the true state of the economy: caught in a liquidity trap with little way out.
This article was posted: Tuesday, September 7, 2010 at 12:39 pm