I was pleased to read this morning that fed officials think that worst of the recession is over. At last! After a year of seeing lots of negativity in the press, finally officials (and businesses) show some cautious optimism. One of the problems that exacerbated the crisis has been the exaggerated pessimism. So called economic pundits that appear on TV trying to deliver shock value through bad news. I have always thought that their effect was enourmous - and becauise of that they should act responsibly. I'd like to note how there were not many pundits out there predicting that the crisis would happen - before it happened. This tells oyu a little bit about their ability to predict things in general.
There are two things to remember:
1. Recessions happen. It is what it is.
2. So far, the USA has ultimately always recovered.
I think that we will see thinkgs improve once there is a uptick in business financing activity. An increase in the business credit flows (read: business loan) is what needs to happen before we see any major improvements.
But lets bask in these good news.
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