"The fishermen know that the sea is dangerous and the storm terrible, but they have never found these dangers sufficient reason for remaining ashore."
— Van Gogh
If early indicators are to be believed and depending on media credibility, we may have well gotten past the worst of the recessionary storm. Economists and the general public feared the worst if the US slipped into a depression. Fortunately we have learned a lot from Hoover’s "deer in the headlights" response to something similar in the late 1920’s to know that measures need to be taken to forestall a depression redux from happening. We had cash for clunkers, home improvement tax rebates and others to keep the US economic engine humming. Kudos to Bernanke and to the Obama Administration then! Let’s not deceive ourselves though. Our treasury is depleted. And more needs to be done.



General Interest





