Not only is the United States slouching toward a double-dip, but so is Europe. New data out Tuesday show even Europe’s strongest core economies — Germany, France, and the Netherlands — slowing to a crawl.
We’re on the cusp of a global recession.
Policymakers be warned: Austerity is the wrong medicine.
We all know about the weaknesses in Europe’s “periphery” — Greece, Ireland, Spain, Portugal, and Italy. But the drop in Europe’s core is dizzying.