Kevin W. Warsh: The New Malaise and How to End It - WSJ.com

After a cyclical boost early this year, the current state of the U.S. economy is unimpressive: modest growth, high levels of unemployment, stagnant wages, low levels of consumer and business sentiment, and volatile financial markets. Extrapolating from recent data, many predict only a middling recovery in the next several years. They call it 'the new normal.' I call it the new malaise."