The Five-Year Funk: OECD Slashes Global Growth Estimates
Three mediocre years after the last recession ended, one of the world's leading economic policy advisers is warning that another may be on the way, as dawdling leaders in Europe and the U.S. fail to deliver the comprehensive solutions needed to restore growth. "After five years of crisis, the global economy is weakening again," says OECD's top economist in its semi-annual assessment entitled Global Economy Facing Hesitant and Uneven Recovery . Since the Paris-based think tank's last report just six short months ago, the outlook for growth has worsened in all but three of its 34 member nations — including a forecast for two more years of mild recession in the euro zone, as well as a call for just 2% growth next year in the U.S. "The most troubling aspect of this was their take on the U.S.," my co-host Jeff Macke says in the attached video. "They took our 2013 growth rate down to just 2% — and that's a best-case scenario that as...