Four Economic Pitfalls

[ethics]

Or as I would name it, "don't get too cozy with a decent economy today."The Economist (http://www.economist.com/printedition/displaystory.cfm?Story_ID=3242846) outlines how the four pitfalls threaten to derail the booming world economy: "higher oil prices, a slump in America's onsumer spending, a global house-price bust, and a hard landing in China."

"Americans may have to resign themselves to a slower recovery than they had initially hoped. Household saving is at a record low, and over-indebted American consumers may be forced to tighten their belts."

[tke711]

"Americans may have to resign themselves to a slower recovery than they had initially hoped. "
I would agree with this.

In addition, I think that American's need to revise their definition of what a recovery is. Most seem to define it as going back to the Tech Boom type economy we had. That was the largest period of sustained growth of it's level in the history of this country. If the expectation is to return to that before our economy is named "recovered" then we will likely be in a so called recovery for a very long time.