Economic Insights – September 2011
The global economy has remained weak throughout 2011. As we’ve discussed previously, this weakness is primarily due to a high level of uncertainty, which has made consumers and managers increasingly risk-averse.
Over the past few months, a great deal of this uncertainty has been driven by financial problems in Europe. A growing number of analysts are drawing parallels between today’s European debt problems and the sub-prime crisis of 2008. And, there are clearly similarities between the two situations.
Those similarities reflect the role that government has played in both.
For example, j.....