Editor's Note

How Bad Is the Economy, Really?

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July 6, 2010 RSS Feed Print
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Don’t let me be the guy to throw a wet blanket on your summer plans, but this year maybe you should have kept some of those hot dogs from your July 4th barbecue in reserve. They freeze well, and who knows, you might need them in six months. It’s just that a lot of crummy economic news seems to be piling up of late. Jobless claims are up, car sales are down, housing sales are flat. Even the Chinese look poised to take a very long weekend. That “double dip” phrase is making a comeback. How’s your consumer sentiment? Are you feeling uneasy or confident about your future finances? What indicators concern you? I’d like to hear where you think this economy is going, so please drop me a note at editor@usnews.com and we’ll see if we can get some clarity on a murky future.

Tags:
recession,
economy

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Blame Harvard business school for producing all those MBAs with their mind set on running all companies as the instruments to.make themselves rich quickly, make the shares go up fast to get their bonus at the expense of research and development, customers and employees. Then move on to another business to repeat the performance. Multiply that thousands of times and you will understand why America is unable to compete at home export very few competitive products.

To that also the free trade fundamentalists, normally also Harvard types and millions of US jobs that used to feed people and pay taxes are gone to China. The government, lacking the balls now slap on tariffs and to hell with the WTO, all it can think of is printing more dollars to make them worth less and hope that makes US goods cheaper; as if the Chinese did not know how to run the printing presses!

To finish America off you have thousands of hiper smart types in Hollywood. in the media, tv shows, writing persuasive books, enacting laws and on and on for decades that have destroyed the values, morals and self confidence any nation needs and there you have the problem of America.

If people like you do not react and send the liberals to the hippy communes where they belong and basically tell China "for every dollar you sell here in manufactured goods you have to buy another one".

Pass it on and mobilize!!!$

victor of NY 11:35AM August 28, 2011

Firstly, I totally agree with Brian Miller's letter from 8/5/10. He is right when he speaks of the feeling of being alone in the fight. I am not a Christian either, or of any other faith for that matter. In my experience, you don't need to believe in a fantasy being to be a good and caring person. I am not optimistic about the ability of Western Civilization(particularly the U.S.) to reverse the economic damage that has been done. Too much worthless credit has been extended for too long and now the bill has come due. However, when I hear some right-wing nutjob talking about raising the retirement age, while we spend more money on unnecessary bombs than the rest of the world combined, I get PISSED! I'm sorry to say that the terrorists won their war against us on 9/11. They did it by enabling our Military Hawks to ramp up the war machine and to spend a trillion dollars(so far), off the accounting books, just to chase a few thousand angry terrorists around the earth. If that much money had been used to properly secure the nation's airports and borders, there would have been enough money left over to create millions of jobs building high speed rail and rebuilding our nation's roadways. But no, that makes too much sense. I'm scared. Scared that the Republican know-nothing thugs will win the House and Senate soon. After that, the fun will really begin. They have no plan on how to fix the mess, so I assume that our collapse will continue until there is anarchy in the streets.I say anarchy because there won't be any bread lines like there were in the 30's....that would be socialism after all. Sure hope I'm wrong.....

Roger Carpenter of CA 4:08PM October 22, 2010

grrrfrrrrrr

lily of NJ 8:57PM September 16, 2010

Editor's Note

Brian Kelly was named editor of U.S.News & World Report in April 2007, nine years after joining the magazine. With more than 30 years of journalism experience, including covering Capitol Hill, politics, and the presidency both as a beat reporter and as an editor, Kelly is one of the nation’s most experienced magazine editors in steering national and international news content.

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