The freezing of credit, the sharp drops in asset prices, dysfunction in financial markets, and the resulting blows to confidence sent global production and trade into free fall in late 2008 and early 2009.
In the financial sphere, our banking system and financial markets are significantly stronger and more stable.
Credit availability has improved for many borrowers, though it remains tight in categories--such as small business lending--in which the balance sheets and income prospects of potential borrowers remain impaired.
Importantly, given the sources of the crisis, structural reform is moving forward in the financial sector, with ambitious domestic and international efforts under way to enhance financial regulation and supervision, especially for the largest and systemically most important financial institutions.
...economic growth over the past two years has, for the most part, been at rates insufficient to achieve sustained reductions in the unemployment rate,
...unusual weakness in household spending. After contracting very sharply..., consumer spending expanded..., only to decelerate in the first half of 2011. ...--the rise in commodity prices, which has hurt households' purchasing power...
by J John Swanko
Live Oak, Florida 09/13/2011 --The Chairman’s recent speech gives insight into our economy future. The numbers seem to indicate –as they come out- the first half the year was slow. While I cannot add to those quotes above, You can read Chairman Bernanke’s speech.
We now see more of what the President has seen and the need for his jobs bill. We continue to fight our way through this Great Recession. Serious people looking at Europe’s attempts to accomplish the same tasks our Congress did, credit the consumer spending slow down to gas prices, the bitter atmosphere all the debate created.
While the thought, You mean I have to really pay taxes, in Greece, Italy and other countries, may trigger less consumption, their voters have gotten over the mess faster than ours. The result is our economy is in flux. Firms need to make good decisions.
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People Port
Copyrighted, 2011, J John Swanko, All rights reserved. This work is licensed under a Creative Commons Attribution 3.0 Unported, It may not be published, broadcast, redistributed, rewritten, without meeting the terms and conditions.
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