Economic Forecast 2010
President Barack Obama’s chief economic advisor is Larry Summers, the man who served as Treasury Secretary to Bill Clinton. It was during the Clinton administration that Summers led the drive to deregulate the financial industry, a policy measure that contributed significantly to the financial collapse of 2008. This same Summers, speaking on behalf of Obama, is now doing the rounds, providing the media with his characteristically optimistic economic forecast for 2010.
According to Summers, the Great Recession is already over, and job recovery will gather momentum during 2010. For those seeking fact based economic forecasts in lieu of happy talk from Larry Summers, I suggest getting a hold of my new book, “Global Economic Forecast 2010-2015: Recession Into Depression.”