The coming depression: part IV

“The economy is stalling even as the Federal Reserve and the government do everything they can to stimulate growth. In economic cycles since World War II, government spending and low interest rates pulled the United States out of recession. This time, even though the Fed has lowered short-term interest rates 12 times in three years, and the government has swung from a $237 billion surplus in 2000 to a projected deficit of more than $300 billion this year, the medicine appears not to be working.” NYTimes.com