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Simon Johnson: Geithner Not Paying Enough Attention To World Economy

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In an interview that will air Sunday on ABC, Treasury Secretary Tim Geithner says, ""We have much, much lower risk of [a double-dip recession] today than at any time over the last 12 months or so ... We are in an economy that was growing at the rate of almost 6 percent of GDP in the fourth quarter of last year. The most rapid rate in six years. So we are beginning the process of healing."

The timing of this statement is remarkable because, while the US is finally showing some signs of recovery, the global economy is bracing for another major shock - this time coming from the European Union.

Read the whole story at Baseline Scenario