By Lucia Mutikani Lucia Mutikani – 1 hr 11 mins ago
This article talks about the growing spending of Americans this season especially in the month of November. This is giving economists a big smile because they say that this is just the beginning of a turn around in the recession.
A slew of data this week has suggested the recovery is gaining momentum, pulling further away from the devastating recession that pushed unemployment to quarter-century highs and raising hopes the economy can return to normal growth as massive government support starts to fade.
"The recovery looks to be more on track. The combination of improvements in the labor market and consumer spending is a strong signal that we're not at this point entering into a double-dip scenario," said Torsten Slok, a senior economist at Deutsche Bank in New York.
I see this as a good thing but really, there is always going to be a debt crisis in America and if for some miraculous reason we come out of this so called recession, the government and media will just find another variable to use to scare the American people. Listen, there have always been a hard labor market, and there has always been homelessness and debt to the American people; but now since people who used to be rich and have nice houses are being turned upside down, now the big people up to are going to listen.
That bull! The US should stop worrying about the issues that are always going to be there and look at what is causing them and go to the source. Help out our the people in our own backyard first.
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