Is the American recovery fast or slow? Depends on who you ask. The Wall Street Journal sees corporate America merrily rolling along while Main Street suffers. The New York Times warns that Wall Street is about to feel the pinch too. But nobody is all that optimistic about Greece today.
There are people around the world rubbing their hands with glee at America's supposed collapse, pundits who say this nation is so bankrupt that it has become irrelevant. But author, venture capitalist and DailyFinance columnist Peter Cohan says don't write America's obituary just yet.
What will the stimulus really cost? The Congressional Budget Office estimates $814 billion. That's less than the office's estimate of $862 billion in January, but more than the original estimate of $787 billion.
The consumer savings rate jumped to 6.4% in June, the highest it has been in a year. But this isn't exactly good news. Sure, it's a natural response to the crisis, but it's spending that drives GDP growth. So where will the next GDP growth surge come from? Our writer's theory: Corporate fear.
