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News Link • Economy - Economics USA

Why So Glum? Numbers Point to a Recovery - By FLOYD NORRIS

• NY Times
The American economy appears to be in a cyclical recovery that is gaining strength. Firms have begun to hire and consumer spending seems to be accelerating.
That is what usually happens after particularly sharp recessions, so it is surprising that many commentators, whether economists or politicians, seem to doubt that such a thing could possibly be happening.

1 Comments in Response to

Comment by Gary Barnett
Entered on:

This story by Floyd Norris seems misplaced on this site. I find his conclusions very weak and full of holes. As is often done, he is attempting to explain away current economic fears by comparing this situation with others in the past, but what he fails to mention is anything about massive debt, continued spending, massive bailouts, the pending commercial real estate collapse, the scary municipal market and the future price inflation risk. Of course there are other problematic factors evident as well.

I think a more cautious approach is warranted here, but then I never believe anything that government says.

Gary D. Barnett

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