Let’s go through the long list that paints a picture of both short-term and longer-term risk to the economy.
- We are not creating enough jobs to cover the growth of the population.
- The stimulus policy is not working.
- Consumer and business confidence is down.
- For a large number of firms, credit conditions have not improved since the crisis.
- The U.S. faces Europe-like debt/GDP and deficit/GDP ratios.
- Financial reform bill seen by many as institutionalizing the cult of bailouts.
- Discouragement about the massive Gulf spill
- Disappointment about the progress in Afghanistan
What about the good news? Uhhh… Maybe your favorite team advanced in the World Cup?
I have some other thoughts. Read the rest of this entry »
