Tuesday, April 13, 2010

America on the comeback

Nice to see a optimistic piece on the economy for a change. Newsweek points out that for all the doom and gloom predictions out there, the long-term decline of the U.S. economy has been greatly exaggerated and offers a more rosy prediction.
So what will our new economy look like once the smoke finally clears? There will likely be fewer McMansions with four-car garages and more well-insulated homes, fewer Hummers and more Chevy Volts, less proprietary trading and more productivity-enhancing software, less debt and more capital, more exported goods and less imported energy. Most significant, there will be new commercial infrastructures and industrial ecosystems that incubate and propel growth—much as the Internet did in the 1990s.
Furthermore, "the federal deficit is running significantly lower than it did last year, with the budget gap for the first half of fiscal 2010 down 8 percent over the same period a year ago."

I'm no economist and who knows if this is going to last, but even though I despised the tactics, the economy does seem to be improving for the moment. All I know for sure is if McCain had somehow won in 08, things would be much worse and I would have no hope at all for the future. So there's that.

[More posts daily at The Detroit News]

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10 Comments:

Blogger Ruth said...

From taking in a friend who was laid off, I also would expect there will be more joint households and gardening going on, as well.

5:26:00 PM  
Blogger Libby Spencer said...

That sounds right to me. A good case scenario would include that along with an overall slowdown in general consumerism.

9:04:00 PM  
Blogger ex DLB said...

A revival is going to give socialism a good name.

10:22:00 PM  
Blogger Capt. Fogg said...

That's inevitable since everything is socialism.

Hell, even God is a socialist.

10:25:00 AM  
Blogger Libby Spencer said...

DLB! Long time no see. Had no idea you were posting at the Nihilist. Wondered what happened to you. Good to see you.

Hey Fogg, Haven't seen much of you lately either. Not getting around to the blogs much these days. Been missing you. Hope all is well.

10:38:00 AM  
Blogger Capt. Fogg said...

I get busy this time of year and hardly have time to read my own blog.

But that's how it is with us commieliberalfascists.

8:33:00 AM  
Blogger Libby Spencer said...

Good sailing weather too I assume. Well, always glad to see you Fogg. Brightens my day. :)

2:01:00 PM  
Blogger Capt. Fogg said...

If the weather was favorable, I'd be out there, but it's way too windy.

Good time for surfing though.

6:09:00 PM  
Blogger Libby Spencer said...

You surf too? I'd like to see video of that. :)

8:09:00 AM  
Blogger Capt. Fogg said...

Hell no! I have no interest in that, but around here, it's called trolling for sharks.

10:49:00 AM  

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