OECD Essentially Says It Doesn't Have a Clue What to Do

The Organization for Economic Cooperation and Development says that world economic growth has slowed and will remain that way for some time. That isn't so much a problem. The bigger problem is that OECD doesn't seem to be able to explain why this recovery is unlike most others, and what can be done to get a more normal-looking return to growth, which would, at this point, be largely about employment growth.

Like so many other think tanks and experts, it seems satisfied to throw up its hands and say that there is no reasonable way for growth to be restored, says Doug McIntyre.

We ought to be skeptical about "experts" who cannot explain what is happening and for this reason cannot offer helpful policy advice. Arguing that some approaches be taken because that is what has been done in the past does not necessarily help if the economy is behaving in a different way.
Perhaps because this recession is unlike others? If that is so, we are going to face unusual dangers. Our experts might not know what to recommend. Worse, they might give flawed advice.
The agency says that “Growth in the Group of Seven countries is expected to be around1.5 percent on an annualized basis in the second half of 2010. U.S. GDP is expected to be in the 1.2 percent range in the fourth quarter of 2010.

The analysis concludes that the recovery from the recession is no recovery at all. What the OECD does not do is suggest what might be done to reverse the problem. Maybe they have no clue.
Read more: OECD Say Global Expansiton Will Slow - 24/7 Wall St. http://247wallst.com/2010/09/09/oecd-say-global-expansiton-will-slow/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+typepad%2FRyNm+%2824%2F7+Wall+St.%29#ixzz0z1pXaUEI

OECD Say Global Expansiton Will Slow