President Obama Still Behind The Curve As The New Normal Is Getting Old

Posted By on November 8, 2010

Huh?   Where has this guy been for the past two years?  

According to The Wall Street Journal: ‘President Barack Obama warned in an interview on CBS’s 60 Minutes about the danger of a “new normal” taking hold of the economy – an environment in which businesses become accustomed to fewer employees and the U.S. job market never regains its footing.’

The president seems to be a bit behind the times, especially since the “new normal” has been part of the national discourse, at least in financial and business circles for a long time. Pimco’s Muhammad El-Baradei coined the phrase at least two years ago when the subprime mortgage crisis imploded. That the president offered no real solutions to the “new normal” despite having contributed to it as much or more as his predecessors doesn’t really excuse the sad state of affairs when the president is about two years behind the rest of the world in figuring key dynamics in the economy.

 Dr. Duarte

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