The Uncertainty Principle
Consumers don't believe the recession is over, businesses aren't hiring, and the stock market has been stuck in neutral, except for manic-depressive mood swings. But there is a bull market in uncertainty. "What will it take for economic policymakers to understand that the chief problem today is uncertainty?" rang one recent Arizona editorial, thereby joining an amen chorus of business and government critics that has coalesced into conventional wisdom. Unemployment and underemployment have become chronic even as the overall economic indicators have stabilized and companies--especially big ones--are generating phenomenal profits.
Blaming China Won't Solve the U.S.'s Economic Woes
With economic activity in the U.S. flatlining and the creditworthiness of European nations still at issue, you'd expect that the annual meeting of the International Monetary Fund would focus on joint policies to address these concerns. But no. Instead, at the insistence of the U.S., the meeting focused on China and its currency.