Endless recovery

The current economic recovery could just be a pattern that will repeat itself for some time. A plan to escape the malaise is needed

There are tentative signs of economic recovery at the moment but, while all commentators would agree the recovery is taking place from a very low base, many disagree about how long it will last. What is needed to escape the malaise is a credible plan to reduce the levels of public debt. Spending increases and fiscal stimuli, while required during times of economic collapse, are counterproductive once the worst is over. This is especially the case in the US, where the housing market is very sensitive to long-term borrowing rates, which are very sensitive in turn to the scale of governm...