We are not in a Recession, We have Reset

Steve Ballmer had a very interesting quote for those of use who have been following both economic and political news over the past year. In general, the policies and changes being introduced by the current administration are not pro growth. The regulations and extended spending efforts will stifle growth. If anything, this may be very similar to the stagflation of the 70s. Interestingly, it appears that Steve Ballmer agrees:

“I don’t think we are in a recession, I think we have reset,” he said. “A recession implies recovery [to pre-recession levels] and for planning purposes I don’t think we will. We have reset and won’t rebound and re-grow.”

link: Microsoft’s Steve Ballmer: Traditional media will not bounce back | Media | guardian.co.uk