Friday, 12 August 2011 09:33
You can almost see the panic on their faces. The politicians, central bankers, and court economists seem to be thrashing around like bad swimmers caught in a riptide. Despite all attempts — stimulus spending, increased borrowing, the Fed Reserve’s low-interest-rate policy, presidential jaw-boning — the economy refuses to recover. Unemployment remains over 9 percent, investment is stagnant, and even the previous paltry growth is fading. People increasingly see the government as impotent.