Rebound?
James K. Galbraith is worried that a slump in the Euro’s value could undercut America’s rebound by making exports more expensive. Former Fed Chairman Alan Greenspan thinks that businesses overestimated the recession, fired too many workers and so they will start hiring again soon. Ben Bernanke, who is fighting for a second term as Fed Chairman, sees slow but steady progress being made and is optimistic about future economic growth. Nobel Prize-winning Paul Krugman, on the other hand is not. The progressive economist sees a “reasonably high chance” for another round of economic contraction. Larry Summers, the President’s principle economic advisor, predicts some positive growth by the spring after those seeking unemployment benefits dropped to its lowest level since July 2008. Finally, Mohamend El-Erian, CEO of a bond managing magnate named Pimco, thinks current values are hopped up on sugar, again.
