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A Slow Tumble

Tuesday, November 2, 2010, 2:07 PM
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Here's one of three scenarios I wrote for the upcoming book.  As long as we leave this behind the firewall (no sending or reproducing please), this is okay.

I am almost done with the book editing process, which began 10 days ago. 70,000+ words, 51 graphs/images, hundreds of references....suffice it to say that going through all of that in just 10 days has been quite a feat - and leave it at that.

Enjoy the sneak peek!

Scenario 1: A Slow Tumble

Framing: In this scenario, nothing ever goes horribly wrong, but neither does anything ever quite work “right” again. What has worked in the past doesn’t seem to work anymore, greatly puzzling the economic and financial authorities. 

It is October of 2014, and the U.S. and European economic leaders are meeting for the second time in six months for another summit on how to combat the persistent economic weakness that has stumped and embarrassed central bankers and politicians alike. Unemployment has remained stubbornly high—well over 10 percent in both economic arenas—and successive rounds of stimulus, both monetary and fiscal, have perplexingly failed to have any lasting impact on either employment or final demand.

 

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