zero percent growth rate by 2011. Here’s why:-

1. The long-term trend back towards consumer frugality and higher savings rates remains in full force. This will dampen consumer spending.


2. A double dip in housing prices is likely, because subsidies are ending and the backlog of foreclosure resolutions is about to accelerate.


3. The impact of the Obama administration’s stimulus plan is fading, and is not leading to any real “multiplier” effects because most of it went to plug holes in state government budgets.


4. European and Chinese GDP are slowing for well-publicized reasons.


5. Those who create jobs in the U.S. fear rising tax rates rising in 2011, rising energy prices from cap-and-trade legislation, the pro-Wall Street “financial reform” bill, and a laundry list of other anti-business policies.