January 11, 2011
Forget about Economic Recovery in 2011
By Monty Pelerin
The new year unfailingly raises spirits, even for those who don't imbibe. It represents a clean slate, a new start, and a time to make resolutions to improve ourselves and our lives. It is a time for renewal.
Economists and politicians are not immune to optimism. Many economists project wonderful things for the coming year. Likewise, Republican political pundits are especially ebullient, anticipating major political changes. Unfortunately, these expectations are no more realistic than our personal resolutions, and they have similar shelf-lives.
The Economy
The year 2011 begins with the government-driven mantra that a recovery is under way. "The Recovery Summer" was accompanied by similar fanfare, only to become the subject of late-night TV jokes. The 2011 recovery meme will be as valid and fleeting as that of its predecessor. Read More
