Stacy Summary:    The achilles’ heel for the US economy is income and that the bottom 99% are ideologically opposed to true free markets, real capitalism and sharing in productivity gains, preferring, instead, to throw their lot as serfs behind their oligarch/Lord of choice, I don’t see the situation correcting.  It will have to collapse in the hyperinflationary great depression Williams sees.

• The Energy Report interview with John Williams

TER: Can the governments pull any more stimulus levers yet this year?

JW: Oh, I think they’ll try, but nothing much they can do will have anything other than short-term impact. If they write everyone a check, people go out and buy things. That would give the economy a quick boost but do nothing to change the underlying fundamentals or to correct the structural problems in this recession. Those are tied to the lack of robust growth in consumer income. Continue reading →