Martin Feldstein, is the former head of the NBER, the committee that makes the ultimate decisions on whether the US eocnomy is in recession. This interview covers a variety of topics from the US Auto Bailout, to housing and how bad the currrent recession will be.
Feldstein is of the belief that forecasts of a turnaorund in the middle of next year are overly optimistc and he sees the recession lasting much longer. That is the my view as well. The idea that the US can spend it's way into prosperity I find naive at best. Feldstein was early with his call on the current recession and talks a lot of sense. Well worth a watch.
Wednesday, 10 December 2008