"In general the economy is downshifting, maybe to stall speed, or just above stall".
The Dutch economy grew just 0.1 per cent in the third quarter while the eurozone slowed close to stall speed.
The reality is the opposite: for several reasons, growth will slow further in the second half of 2012 and be even lower in 2013 – close to stall speed.
In a recent research paper, Jeremy J. Nalewaik, a Federal Reserve economist, described this concept as "stall speed": once the economy slows markedly, it often continues to do so.
We believed, and still do, that whether it comes in the form of a payroll tax holiday, an income tax rebate or another similar mechanism, the most pressing priority is to get the economy out of "stall speed".
The Po-2 biplanes flown by the Night Witches had an advantage over the faster, deadlier German Messerschmitts: their maximum speed was lower than the German planes' stall speed, making them hard to shoot down.
Unless the Fed commits to allowing more inflation, and there is not much hint that it will, markets suggest America will limp along it is knocked back into recession or slows to stall speed.
The thinktank said it was concerned that many of its rich-country members were at or below "stall speed", a slowing of economic activity that in the past has signalled a recession to come.
