In the News (from Reuters): “The Group of 20 nations pledged on Saturday to put growth before austerity, seeking to revive a global economy that ‘remains too weak’ and adjusting stimulus policies with care so that recovery is not derailed by volatile financial markets. …

“The U.S. chose to pursue macroeconomic policies that encouraged economic growth and jobs, with fiscal correction once private demand was strong enough to be self-sustaining. The G-20 has acknowledged the importance of getting this balance right.”

My Comment: The increase in demand will not happen because that is the course of the crisis, that is the trend is moving to a new formation, and the “tastes” of society are changing toward a growing indifference to excess.
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