Consumer Optimism for U.S. Outlook Hits Eight-Year High: Economy
By Alex Kowalski and Shobhana Chandra - Mar 22, 2012 8:55 AM PT
Thirty-four percent of respondents to Bloomberg’s monthly consumer expectations survey said the economy was improving, the largest share since January 2004. The pickup boosted the monthly expectations the highest in a year. Figures from the Labor Department today showed jobless claims decreased by 5,000 to 348,000 in the week ended March 17, the fewest since February 2008. end quote from:
end quotes. This is very good news for the whole world. It has been predicted by many experts that the U.S. would emerge from the "Great Recession" first, and then Europe and then last China. The reason for this is basically "Adaptability built into different governmental systems. The most adaptable by design is the U.S. system. the second most adaptable is Europe which is still trying to get its banking system to be more like the U.S. in regard to the Euro. The last to emerge will be China which is now having problems because its system simply does not have at present the right checks and balances for it not to be adversely affected at this time. It is sort of a double whammy for China because this is happening while it is going through a major shift in top governmental officials. Hopefully, these new officials can figure a way through this present financial crisis without being blamed for it. For, in the end, the lack of balanced financial regulations in EVERY culture is actually to blame for the Great Recession and not any one country or any one group. As soon as we got rid of the legislation put in place during and after the Great Depression we were doomed to have this kind of experience. And we will periodically have this kind of bad experience of 'The Great Recession" or worse (about every 5 to 20 years) until those kinds of more "Severe" laws are put in place once again that we put in place during and after the "Great Depression".