A glance at some recent headlines may indicate a change in our economic fortunes. Credit markets, helped by federal government aid, may be thawing. The housing market, stimulated by low interest rates, is “edging toward a turnaround,” as the New York Times put it on Friday. The Standard & Poor’s 500-stock index has risen by 25% since early March. And also late last week, Lawrence Summers, President Obama’s economic advisor, said the economy’s “free fall” was likely to end in the next few months.
So waddaya think? Things getting better? It’s hard to tell. Companies are still shedding jobs at an alarming rate. The next round of corporate financial reports, due shortly, is not expected to be pretty. And retailers are still pretty glum.
My own sense is that confidence is starting to return. Not in a wave; it’s more like a trickle, but discernable. I hope I’m right. If I am, we’ll be starting the long climb back.
—David R. Brousell, MA Editor-in-Chief
4 Comments
Inflation will strenghten the middle class’ buying power since home mortgage payments will remain as their salaries eventually adjust to inflation.
manufacturing needs to stay alive in the US. Other countries take care and help manufacturing Slick Willie and the rest of the policial need to quit putting their hands out and start doing what is right for the people if you don’t manufacture all the wealth in the US leaves and goes to China Japan and the Middle East. Save Your Standard of Living.
There is no question that we are seeing the bottom of the Great Recession. The following will all occur this quarter: decline in GDP will turn, the stimulus package will kick in, Consumer Confidence is returning and consumer spending is returning. The challenge now is are companies ready? The planning for the Great Comeback to the Great Recession must begin now.
We need to bring jobs back to the United States. The new employment opportunities the goverment is speaking about seem to be only in construction but we need hard core manufacturing jobs.