IaNsSyAlNuE
08-06-2009, 04:05 PM
Economy may be stuck with high unemployment, weak growth for years
The reason is that consumers — the mainspring of the economy — remain hunkered down. Growth is still coming from cost-cutting and federal spending, not from a pickup in real demand. And with 7 million workers sidelined by this recession, that headwind likely will be blowing for several years.
The message is so convoluted....happy days are here again, no wait, it's terrible out here. Go buy a new car! Wait that is the philosophy that got us here.
The reason is that consumers — the mainspring of the economy — remain hunkered down. Growth is still coming from cost-cutting and federal spending, not from a pickup in real demand. And with 7 million workers sidelined by this recession, that headwind likely will be blowing for several years.
The message is so convoluted....happy days are here again, no wait, it's terrible out here. Go buy a new car! Wait that is the philosophy that got us here.