Sunday, November 1, 2009

Has the worst passed?

This week I read some very interesting articles about the current state of the economy. According to the popular economic magazine The Economist, the U.S. GDP for the third quarter is up close to three percent from the second quarter(www.economist.com). Is this a sign that we are finally recovering from the recession? Some economists don't think so. Many economists believe that the federal stimulus package has done nothing more than create a bubble that will soon burst(http://www.forbes.com/forbes/2009/1116/opinions-great-depression-economy-on-my-mind.html). I agree with these economists. Unemployment continues to rise and will probably get worse. The economy is in a state of jobless recovery. Until unemployment decreases and GDP continues increasing, the economy will not improve.

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