Introduction: The Great Uncertainty

Much of the world is stuck in the economic doldrums, a place where there is precious little breeze to push the weathervane in any particular direction. Is the economy headed toward growth and prosperity, or is an even bigger recession just around the corner? Will this be the year that unemployment rates finally return to manageable levels, or are the increasing ranks of people who have dropped out of the job market entirely going to be a heavy anchor that keeps our economy from moving forward? Is there an inflationary (or deflationary) spiral in our not-too-distant future?

When will things get back to normal? Will they ever get back to normal?

I call this time in history the Great Uncertainty, and it's the ...

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