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Grim 2012 Economic Outlook

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Grim 2012 Economic Outlook - by Stephen Lendman

Hard times getting harder ahead.

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Yearend isn't just about holiday season binge shopping, parties, and over-indulgence. It's also when economic predictions surface. 

The Wall Street Journal publishes consensus views. On December 23, it headlined, "Risks Cloud Outlook for Economy in 2012," saying:

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"The economy is poised for another year of muddling through. Most private economists forecast a modest 2% growth rate for the US....with a pace subdued by housing woes, a lackluster job market, and cuts by government."

"They also warn of potential spillover from weakness abroad, including a mild recession apparently under way in Europe."

Concerns and uncertainties highlighted included:


  • global weakness, threatening US exports;

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  • weak housing demand with foreclosures affecting prices;

  • protracted unemployment and weak job creation; and

  • government belt tightening.

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I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

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