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.

Celia

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.

Consider Supporting Us?

The staff at Onenewsnow.com strives daily to bring you news from a biblical perspective. If you benefit from this platform and want others to know about it please consider a generous gift today.

MAKE A DONATION

Comments

We moderate all reader comments, usually within 24 hours of posting (longer on weekends). Please limit your comment to 300 words or less and ensure it addresses the article - NOT another reader's comments. Comments that contain a link (URL), an inordinate number of words in ALL CAPS, rude remarks directed at other readers, or profanity/vulgarity will not be approved. More details

SIGN UP FOR OUR DAILY NEWSBRIEF

SUBSCRIBE

VOTE IN OUR POLL

What's your reaction to President Trump's decision on transgenders in the military?

CAST YOUR VOTE

GET PUSH NOTIFICATIONS

SUBSCRIBE

LATEST AP HEADLINES

US admiral stands ready to obey a Trump nuclear strike order
GOP senators blink on a big chance to repeal 'Obamacare'
Trump announces $10B Foxconn plant in Wis.
Latest: Gore slams Trump's military transgender ban
Spinning Ohio State Fair ride breaks apart; 1 dead, 7 hurt
Trump: Transgenders barred from military service 'in any capacity'
Scalise discharged from hospital, beginning rehabilitation
Wasserman-Schultz fires IT staffer following fraud arrest

LATEST FROM THE WEB

Democratic Senator on GOP Rep's duel comment: I have my pistols loaded
Pence praises Trump's 'candor' in Sessions confrontation
Movie project about Holocaust survivor to focus on what's 'coming back'
Trump: $10B Apple supplier's U.S. plant 'fantastic for the people'
Historian: Louisiana Dems 'have forgotten their own history'

CARTOON OF THE DAY

Cartoon of the Day

REASON & COMPANY

NEXT STORY
A look at this year’s Social Security changes

An expert in retirement security is adding his two cents to thoughts on this year's changes with Social Security.