Regarding the economy of the United States on March 22, 2008

Regarding the economy of the United States on March 22, 2008.

I noticed that many people are reluctant, or "were" reluctant, to use the word recession as the economy spiraled down in 2007. Yet in my eyes the recession was late and it annoyed me when people denied it’s arrival. Stockdale suggests we don’t keep our head in the sand if we want to survive.

"Every good-to-great company embraced what we came to call the
Stockdale Paradox: You must maintain unwavering faith that you can and
will prevail in the end, regardless of the difficulties, AND at the
same time have the discipline to confront the most brutal facts of your
current reality, whatever they might be."

Good to Great, Jim Collins

The fact that the US economy is in a recession, and may go into a depression, isn’t rocket science. It is common sense.

You have malaise at best in America. From that previous link ArabNews says:

The United States remains the sole superpower, but its dominance is
challenged by an economic and cultural shift toward Asia and the impact
of globalization, which Americans do not yet fully comprehend.

Add to that a few more items. Oh I don’t know we can start with high energy prices. The debt and deficit growing. The irrational exuberance of the housing market dropping. Overdue. Baby boomers buying more meds on less money because they "spent their children’s inheritance" (so sayeth bumber sticker wisdom). And bought condos in Florida they can’t afford. A crazy unpopular war but no way out without breaking commitments to allies.

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