Going Stag

We tend to prefer excess demand,
Under it economies expand.

Of course things can get over heated,
Then creditors find they've been cheated.

Inflation erodes buying power,
Too much of it and things go sour. 

Its anticipation can cause drag.
Then the economy tends to lag.

Mainly the cause is belt tightening.
During the trough that is frightening. 

Now the front runner is in trouble.
The Chinese burst a housing bubble.

With a weakened Sino demand pull
Harder to get employment to full.

We need a global priming the pump
To give production a massive jump.

The focus remains on a different threat,
The long term prospect of massive debt.

Lack of nerve for the obvious cure
Getting on the growth path far from sure

The other thing that occurs to me
Not too far off we'll start World War Three.

Things Fall Apart Economically, Everywhere - NYTimes.com via kwout