The net net of these countervailing forces is hard to determine. The best guess is that there will be some real recovery over the next year. But the economy is more likely to turn down as we enter into 2012 and the Obama negatives gather force. If inflation does start to accelerate, another recession a year or two later will be inevitable, depending on when the Fed decides the inflation is getting out of control and has to be stopped. Obama’s Back to the Future economics will then have succeeded in fully restoring the 1970s.” Read more.
“The New Big Picture”
The American Spectator, December 15, 2010.
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