Will Recovery Go Global?

If not, it won't amount to much.

By Robert J. Samuelson | NEWSWEEK
Published Aug 14, 2009
From the magazine issue dated Aug 31, 2009

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  • Posted By: dk1967 @ 08/20/2009 12:42:57 AM

    What recovery? We're still losing jobs. Most of us can't find a job. So where is the recovery? And I haven't seen anyone giddy about the economy anywhere!

  • Posted By: morpheus11 @ 08/19/2009 1:45:18 PM

    Perhaps a more appropriate title would be, "Will the recovery go domestic?". The U.S is the country in the deepest dodo. We still have declining home values, we still have people being laid off. I don't see any legs to prop a recovery on. Add to this agov't that thinks going trillions of dollars more in debt each year is a way to save money and I see a recipe for financial Armageddon.

  • Posted By: Still Free in the USA @ 08/19/2009 1:27:55 PM

    These types of "bandaids" are not recovery. The next wave of foreclosures and credit card default will be HUGE and there is no bandaid that will fix this one.
    updated 7:00 a.m. CT, Wed., Aug 19, 2009
    WASHINGTON - Car dealers are growing increasingly impatient with the government's slow pace in reimbursing them for accepting trade-ins as part of its popular "Cash for Clunkers" program, even though Transportation Department officials say they are working to address the delays.

  • Posted By: Still Free in the USA @ 08/19/2009 1:24:22 PM

    What recovery? Ask Main Street. AGAIN, we are seeing the top tier profit. While middle and lower income people are worse off than EVER. The accounting method is simply an equation that does not accurately configure what is the "balance sheet".
    And THAT is scary.

  • Posted By: Tan Boon Tee @ 08/15/2009 11:23:02 PM

    Has recovery begun in the US?

    Of the scores of the US bank failures so far in 2009, the $26-billion giant Colonial Bancgroup is the latest and largest casualty.

    Its sudden collapse must be worrisome if not real scary to many, especially when a couple of bailed-out banks are already claiming to have made big profits. What a stark and disturbing contrast?

    Could one be right in expecting more bank demises before the end of this year?
    (btt1943)

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