POWER WITHOUT CREDIBILITY A lost decade ahead

POWER WITHOUT CREDIBILITY
A lost decade ahead
The US Federal Reserve faces an intractable unemployment problem. Households, their wealth savaged by the financial crisis and their job security threatened, are now paying off debts and cutting back on purchases. Until consumer spending picks up, no recovery can come. - Henry CK Liu
This is the second article in a three-part report.
http://www.atimes.com/atimes/Global_Economy/KI15Dj04.html

Part 1: Bogged down at the Fed
http://www.atimes.com/atimes/Global_Economy/KI11Dj01.html