Half Empty, Half Full
The recession is forcing many businesses into bankruptcy and pushing workers out of once-safe jobs.
BUT - The downturn accelerates "creative destruction." People are redirecting their energies from dying businesses into growing sectors.
The sharp decline in U.S. consumer spending is devastating many businesses and contributing to layoffs.
BUT - If Americans save more, they will have more money to invest for productive purposes without relying on foreign creditors.
Fear that things could get even worse has driven businesses to slash jobs, output, and purchases.
BUT - Emotions are fickle. If fear subsides, businesses could start to focus on opportunities and accelerate spending in a hurry.
Rapid growth in the global population of college-educated workers creates more competition for Americans.
BUT - In the long run the bigger pool of educated people should make discoveries, products, and services that benefit everyone.
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