I just had a fascinating discussion with economist David Hale who thinks that the US economy may get a “dead cat bounce” in jobs created in 2010. Hale thinks this relatively optimistic scenario depends on the American consumer coming back to life.
Recently, the New America Foundation hosted a national policy forum focused on America’s “private debt overhang.” On this link from the New American Contract blog, there are some good powerpoints from the various speakers that may be useful in benchmarking US economic performance right now.
And in the video above, I chat for about seven minutes with economist James K. Galbraith who walks listeners through the limited wherewithal of American consumers to kickstart growth. Galbraith, son on John Kenneth Galbraith, is Lloyd M. Bentsen Jr. Chair in Government/Business Relations and Professor of Government at the LBJ School at the University of Texas at Austin.
— Steve Clemons