This article in The Scotsman reviews some of the evidence:
What is spooking world stock markets is not just disappointing results from top blue-chip companies. It is that the world economy may now be staring a deflation recession in the face.
US interest rates are now at a 41 year low:
In any event, it is increasingly apparent that bringing interest rates down to a 41-year low has not sparked the widely trumpeted recovery. Greenspanís blunt truth to Brown may be that if he is looking for a quick fix, thereís just none on offer.
|Share |||By Randall Parker at 2002 September 26 11:12 PM Economics Political|