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Posted by: Greg T. Spielberg on July 24
That’s the first reason for optimism.
The second is BusinessWeek/YouGov’s Optimism Index is up two points to 47% this week. Our Dow Jones industrial average showed it’s not afraid to creep back up past 9,000, a nice lead-in to July’s last weekend. Rising on the Dow’s back is an increase in respondents who think the stock market will be higher a year from now.
Despite the chipper news from Wall Street and continued profits for Goldman Sachs via its mind-bending stock “pickers,” BusinessWeek reporter Ben Steverman notes that half a million Americans filed jobless claims recently.
Steverman points out that the market rally may lead to a psychological bump, which would increase spending. My concern is that we haven’t nearly figured out where we fit into the global economy. Something that can’t be compensated for by the Goldman gaming device.
BusinessWeek’s Joe Weber, Patricia O'Connell, Michelle Conlin, Frederik Balfour, Peter Coy, Greg Spielberg and Roger Crockett examine The Case for Optimism by looking past the financial turmoil and economic unrest gripping the globe to focus on the promising future that lies on the other side of this storm. We’ll chronicle the forward thinkers investing in R&D, launching promising new products, entering new markets, or implementing management and leadership.
See why BusinessWeek Editor-In-Chief Stephen J. Adler is optimistic about the economy amid the sharpest downturn since the Great Depression.