Asia Times Online :: Global Economy: "America will keep running trillion-dollar deficits as far as the eye can see, and the world won't come to an end. The present generation of economists, pundits, and hedge-fund heroes will retire before we see the consequences of fiscal irresponsibility. There's a simple explanation for this, and it's called "fracking". America will produce more energy than Saudi Arabia by 2020 and turn what used to be a colossal foreign trade deficit into a small but comfortable surplus. And that will enable America to keep selling huge amounts of government securities to the rest of the world at fairly low interest rates. . . . " read more at link above
Is the Global Economy Slowly Falling Apart? | TIME.com: " . . .There’s always the possibility of external shocks that would knock the U.S. economy off track. But based on the trends that can be evaluated now, it looks as though a sluggish recovery will continue for several years, and that the outlook could well improve after that. The overall picture may not be particularly upbeat, but the worst appears to be behind us. Certainly, the relentless decline foreseen by Stockman and other pessimists seems unsubstantiated by what we can know now."
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