Nothing in here I haven’t heard for the last 25 years.
In those 100 quarters only 6 had negative economic growth.
American prosperity is an amazing thing.
But there are some deep, dark clouds on the horizon although not the ones mentioned in this article. The tsunami of future entitlement spending and runaway government pensions is very troubling. The amount of borrowing and taxation to pay for this future spending is unsustainable. The prospect of future high energy prices and energy shortages is troubling. The mandates and subsidizes for biofuels and renewables could make the US economy much less competitive. The litigation and regulatory environment are also onerous.
American ingenuity is an amazing thing. As long as the government stays out of the way by not picking winners and losers, (btw, I’m still pissed about the $7B subsidy to the ‘ethanol industry’ Milk $4.48/gal at Walmart) the can-do Yankee spirit is phenominal!
The rich get richer by continually doing the ‘things’ that make them rich. Success is a habit!
The average American needs financial education.
We need more Suze Orman’s and Michelle Singletary’s for instance.
"ECONOMIC PUNDITS HAVE CORRECTLY PREDICTED 35 OUT OF THE LAST 3 RECESSIONS"
Even a broken clock is right twice a day.