Sunday, January 10, 2010

Economic recovery depends on government stimulus

This article suggests that the economic recovery is fragile and depends on government stimulus. The global economy continues to be in bad shape.

In my humble opinion, it will take a long time for the global economy to recover, if we continue with the free market capitalism. Here are some obvious problems with free market capitalism:

a) wide disparity of income
b) insecurity of jobs
c) financial sectors makes huge profits, without creating real value
d) bad business ethics and cheating
e) poor protection of workers and consumers
f) poor leadership from government leaders

If I am wrong, the global economy will recover soon. If I am right, be prepared for a decade of economic depression, or a change towards socialism (which is a better economic system, so I think).