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America's secular stagnation due to unconventional monetary policies

That's why Warren Buffett's optimism about America's economic future looks misplaced. But he has history on his side, and in the very long run he will probably be vindicated.

The immediate prospects for both the US and global economy, however, remain blighted by the unbalanced and unsustainable nature of the post-financial-crisis recovery.

LARRY Summers believes that the US economy has entered a period of "secular stagnation". Warren Buffett is not persuaded by the arguments of the former Treasury secretary and White House economic czar. In his widely followed letter to shareholders, the Berkshire Hathaway chairman claims that...

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