Not a Recession?

It’s mighty tempting to guess that the 2001 recession was about as big a shock as the US economy (do we still call it that now?) could withstand. In the intervening six years to the 2007 shock so much more activity has been shipped out to lower cost labour markets. The US is now top heavy, with managers managing foreign capacity, but no manufacturing jobs for the masses.

Instead of a slow recovery, perhaps this is the new normal. If it is, who do we congratulate on bring the giant to it’s knees?

Advertisements

1 thought on “Not a Recession?

Wise words...

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s