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To respond to Becker's point about the recession ending-don't count on it. There's still a fundamental correction in the economy working itself out right now an
by jswinghammer 17y ago
To respond to Becker's point about the recession ending-don't count on it. There's still a fundamental correction in the economy working itself out right now and the government is doing its best not to let it happen. Banks are still failing, job cuts are still occurring, and there is a lot of debt out there still that needs to be either defaulted on or paid off. Cash for clunkers raised GDP output slightly but that's just one quarter's worth and things are likely to resume on their old course again now.
The establishment is patting themselves on the back right now for saving us all and we'll see if they're right.