Can the US Economy Be Fixed and When?

Fortune magazine ran a great article on the economic situation. The economy will get better only slowly.

The main reasons are:

1 Homeowners have less equity and borrowing power. 2 Shareholders have smaller retirement accounts and less confidence. 3 There are fewer jobs. 4 Meanwhile, although industrial companies’ cash holdings are at record levels, they’re not rushing out to add U.S. workers.

The other big issue: 8 million jobs lost! Only a million “new” jobs created over the last three years.

If the economy needs consumer spending, where is the money for consumers to use supposed to come from?


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