Even before the meltdown, U.S. economy 'clearly was not sustainable;' economist says

Brandon, Hembree
December 2009
Southwest Farm Press;12/3/2009, Vol. 36 Issue 23, p20
Trade Publication
The article presents the statement of Joseph Stiglitz, regarding the economic condition in the U.S. before the global financial recession. Stiglitz mentions that crisis has been observed in the country from 2003 to 2007 before the onset of global recession. He highlights the factors that have resulted to crisis including high level of consumption, challenges in inventories, and the manufacturing transition into service sector. He also notes the impact of recless lending to the nation's economy.


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