The International Monetary Fund doesn't want to say it outright, but its latest World Economic Outlook shows more stagnation of the European and Japanese economies, and the possibility of a third EU recession since 2008.
August 2nd is the U.S. Treasury deadline for authorizing new borrowing and increasing the debt ceiling. The White House, however, have put in place a July 22nd deadline. But Republicans and Democrats are not talking.
To avoid Japan-like fate, the U.S. must focus on pro-growth policies that are supported by both Democrats and Republicans, create jobs and, above all, restore the level of confidence necessary to ensure a sustained period of economic growth.