'End of Normal' Nigh as Technology Advances, Military Power Declines

Massive Federal stimulus stabilized the economy following the great financial crisis, yet the government's continuing actions will not bring about a return to high growth and full employment.
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Massive Federal stimulus stabilized the economy following the great financial crisis, yet the government's continuing actions will not bring about a return to high growth and full employment, said James Galbraith, author of "The End of Normal". Galbraith said the collapse of 2008 was 4 decades in the making contrary to popular belief. He stated that the rising cost of energy played a central role and this problem will not be solved by the current natural gas boom. He added that the futility of military power is creating a more uncertain world economic environment. Finally, Galbraith criticized the complexity of banking institutions and called for increased opacity on Wall Street.