One day people of the world will look back at the terrible economy of the early 21st century and wonder what were the leaders back then thinking?
A continual infusion of government spending, central bank money and artificially low interest rates have enabled the the economies in the U.S., Europe, China and Japan to limp along, The Associated Press reports. But many of the nations in the European Union are still caught in a recession with high unemployment.
China is outperforming the other economies with a 7.5 percent growth, but it is at a two-decade low. A greater issue that all of the nations of the world must address quickly is the tremendous disparity of wealth that keeps getting worse.
The stimulus is helping to keep the economies of the world afloat, but a lot of people are under water. The inequality is causing sucking the life out of the middle class, and that will further weaken overall economic conditions for everyone.