In my newly released book (tinyurl/l5hu5tt), I posit that the prostrated United States economy will take time to recover. My protractors or antagonists with their respected scholastic contrapositions stated that unemployment is down, housing market is picking up again and the general macroeconomic conditions or major economic indices are projecting some trajectory towards growth. Markedly, five CEO’s of fortune 500 corporations that I held discussions with argued that they are sitting on excessive cash reserves and businesses have never been so great. I then proposed to the CEOs why are they sitting on the excessive cash? Pertinently, their muted answer was the coast is not quite clear. Perplexing, the clouded coast remains the big elephant walking in the chandelle store. Concomitantly, the GDP growth in the United States is 1.2 percent or less than 2 percent. To boot, poverty rate in the United States has increased (tinyurl/m5y2pd4). Globally, China and other Asia countries are experiencing similar maladies in terms of their economy growth. The question thus become has the United States recovered from the recession? In a twofer answer, no! And it also depends on your interpretation with the underneath meaning of the word "recovery"….Author is the senior editor at jofdt
Posted on: Thu, 29 Aug 2013 13:13:53 +0000
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