Recession Over - World Peace Next

Nice article from Newsweek. Its one to gain attention and create some energetic mind buzzing. Essentially it is another summation article and the news is not new. Its also a leap of faith.

The markets are still the leading indicator and the trailing ducklings are unemployment, housing, foreclosures in commercial and residential property, fractured health care, and let's not forget that nasty old deficit, several trillion in red.

Newsweek: The Recession Is Over

The Obama administration's strategy rests on what some might call industrial policy or excessive government intervention—or even creeping socialism. I call it "the smart economy." It means eschewing the blunt economic instruments we've always used and focusing resources and rhetoric on strategic sectors: renewable energy/green technology, infrastructure, broadband, and health care. It means making investments to run vital systems more intelligently and efficiently, thus creating a new infrastructure on which the private sector can work its magic. This philosophy, legislated in the $787 billion American Recovery and Reinvestment Act, holds that a mixture of targeted investments, tax credits, subsidies, reforms, and direct purchases can preserve or create jobs in the short term, improve America's economic competitiveness in the long term, and catalyze private-sector investment.