In my final blog post, I felt that it would be somewhat fitting, among the rest of my doomsday posts, to talk about something that is at least somewhat uplifting. The Federal Reserve has released a report acknowledging that the recession is slowing to some degree, with markets jumping unexpectedly in the past few days. This came as a surprise to many financial experts, as a recent report had also just been released saying that the American economy was the worst it had been in half a century. Coupled with this, there are several sources saying that housing prices are finally stabilizing, one of the major reasons the economic collapse started in the first place. The news was even enough for a Wachovia Securities economist to state that the economy is “now on a road to recovery”.
While it is absolutely good news to hear about something like this, it is perhaps too early to get excited. Economic recovery is not something the world is going to achieve at a fast pace, but a gradual and careful plod that will probably backtrack a few times before succeeding. That banks are working towards helping establish a stable house market is surely good news, despite that consumer spending is down almost everywhere. The next few years will be essential to the recovery of the world economy, and the U.S. will have a essential role in assuring that the road to economic prosperity is one taken with caution and responsibility.
1 comment:
Any sign of hope with this economy is such a good thing. We always hear negative things about the economy so I commend you for posting something positive and uplifting about it.
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