Celia: A stalled economy is a big deal

Saturday, January 5, 2013
Chris Woodward (OneNewsNow.com)

One financial expert says people are senselessly ignoring the warnings about the fiscal cliff agreement stalling the economy.


American Family Radio's Dan Celia cites one warning from NYU professor and economist Nouriel Roubini, who thinks the expiration of the payroll tax cut, among other things, means a drag on the economy is now 1.2 percent more likely.

Even so, Celia does not think people care.

"We've watched Japan do this for 12 years. That's the problem -- nobody really cares about the economy stalling," he submits.

"The worst-case scenario [to most people] is the economy stalls and we have more people on unemployment benefits and more people collecting government assistance of some sort in order to survive."

When it comes to gross domestic product (GDP), the expert recognizes that some people think anything above a negative number is a good thing.

"It's never going to be a good thing," Celia asserts. "It's never going to lead to might, strength and prosperity in America like we have experienced over the last 50 years."

The radio host goes on to warn that the stalled economy will eventually catch up with companies, and the companies that have been doing well through all of their cutbacks will not be able to cut back anymore.

Celia heads up Financial Issues Stewardship Ministries.

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