Wiedemer: Recovery is a Mirage, Fueled by US Govt Borrowing, Spending

Monday, 09 May 2011 02:09 PM
By Greg Brown and Ashley Martella
video at the link

The U.S. recovery is a mirage, financed by government borrowing and spending, says Robert Wiedemer, a managing director of investment-advisory firm Absolute Investment Management and a regular contributor to Financial Intelligence Report, a monthly investment newsletter published by Newsmax Media.

Borrowing has fueled the supposed economic rebound. Now the government is painted into a corner, facing a debt ceiling but with no clear way to make the U.S. economy grow without taking on even more debt, warns Wiedemer, co-author of the best-selling book “Aftershock,â€