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Nobel Laureate: New Normal in Joblessness Ahead

post from The Razor's Edge on 06 November 2009 02:58:07 PM. © The Razor's Edge

At Ockham, we tend to agree with Phelps' assessment that this recovery is running out of gas. There is simply too much strain on the economy from the growing numbers of unemployed to expect that consumer spending will boost us during the holiday season.[...]

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http://blog.ockhamresearch.com/index.php/2009/11/nobel-laureate-new-normal-in-job
lessness-ahead/