Barry Ritholtz: We're in Economic Purgatory

Barry Ritholtz, editor of The Big Picture blog and two-time Agora Financial Investment Symposium speaker, describes to Forbes how the failed recovery is like economic purgatory… and is at least devoid of new hiring among other problems. With interest rates essentially at zero the Federal Reserve has “painted themselves into a corner” and are well on the way to “making cash trash.”

Overall, Ritholtz points out with his unique panache that too-low interest rates have caused the nation to embrace moral hazard and malinvestment. This clip came to our attention via The Big Picture blog post on an uncertain economic recovery.