"However he again is ignoring that government deficit spending is allowing agrregate demand to remain constant whilst the private sector repairs their individual balance sheets."
Do you think the government will be able to continue it's deficit spending?
What's in store for 2012? You are correct, the government propped up the economy in 2008. Now house prices have fallen every month this year and retailers are going through one of the toughest periods in decades.
I assume they will have to apply stimulus for maybe 10 to 15 years while household repair their balance sheets?
