"According to a recent joint report by the International Monetary Fund and the International Labor Organization, fully 25% of the rise in unemployment since 2007, totaling 30 million people worldwide, has occurred in the US. If this situation persists, as I have long warned it might, it will lay the foundations for huge global trade frictions. The voter anger expressed in the US mid-term elections could prove to be only the tip of the iceberg." Read Harvard economist Kenneth Rogoff's column for project syndicate here.
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ReplyDeleteI thought it could be interesting to post this slightly related article: Robert Reich's view on the possible economic effects of a) QE2 and b) the Republican takeover.
ReplyDeletehttp://www.huffingtonpost.com/robert-reich/the-republican-recipe-for_b_779121.html