Nobel Prize Winning Economist Joseph Stiglitz: "serious risk of an extended malaise"

- Consumption is weak
- Exports will remain weak
- Weakness in commercial real estate
- Huge deficits at the state level, leading to more job losses
- Many Americans at risk of having unemployment benefits expire
- Weakness in our major trading partners, and overall lack of final demand
- Next few years may be characterized by weak growth and false starts on the road to recovery