I think the economy is on its way to recovery already. What do you think?

Question

Two straight weeks of good economic news. And also the government's tax rebates and the new housing bill will further help the economy. I think people panicked for no reason a few months ago. This economic downturn wasn't really severe at all.

Answer 1

Your optimism is admirable, but until the job market improves substantially, people will keep using up their savings, selling their stocks, and dipping into their 401k accounts - money is too scarce, and along with the current inflation cycle, many people can't buy much more than essentials. You're probably right that it won't get much worse, barring another scandal, but the recovery will be slow and painful.

Answer 2

In just the past 2 weeks, we've had to bail out Fannie Mae and Freddie Mac, who control $5 TRILLION in mortgages, 3 banks have failed, and the stock market has fallen below the level it was when Bush took office.

That's not good news.

And it's going to get worse.  Sorry to burst your bubble.

Answer 3

Two Weeks does not make for the "Beginning" of an economic recovery (especially when it took 6 months to get Here...). If things haven't gotten any worse by Labor Day, then it should be "safe" to say- we've bottomed out. Perceptions take a longer time to Change, however... So I'm not expecting things to really get any better- until after the Election... With IT out of the way, maybe people will be feeling better over the Holidays... Let's HOPE...  :)