Gloomy economic indicators continue to raise questions about the sturdiness of the global economic recovery. Weak global demand for American exports, a near 10 percent U.S. unemployment rate, and sluggish bank lending (Bloomberg) have led to doubts about the Obama administration's efforts to stimulate the economy with a new jobs bill (WSJ). Questions also loom about the Federal Reserve's decision to keep interest rates low indefinitely and how long markets will tolerate high U.S. debt...read on
Is the East really starting to "outshine" the West???