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Friday, January 24, 2014

Economist Phelps: US Is 'Out Of Ammunition' To Fight Stagnation

While some experts see signs that the economy is improving, Nobel laureate economist Edmund Phelps of Columbia University isn't quite so optimistic.

"It's surprising when people suddenly are talking about stagnation when we've been in stagnation since 1972," he tells CNBC.

"Governments have thrown all sorts of ammunition at it including concocting the housing boom. We are kind of out of that ammunition, and we have to dig deeper if we are going to get out of this rut," Phelps notes.


1 comment:

Anonymous said...

No that's not true.
If Obummer and the dumbocrats would get the heck out of the way, the economy would flourish.
Just look at Wisconsin after Scott Walker REMOVED democrat policies.