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Vast Majority of Americans Say There's Still a Big Recession

An industrial economy like America's needs to manufacture consumer goods and it must also outperform other competitors in quality, cost-effectiveness, quantity and innovation.

September 26, 2010 (Hamsayeh.Net) - In a recent internet survey, over 80 percent of all respondents voted yes when they were asked if US was currently in an economic recession? Only less than 20 percent gave no answers to that question.

The above survey came just a week after a report by the National Bureau of Economic Research (NBER), a financial think-tank, which concluded that the recession ended back in June 2009. It took NBER more than 15 months to find out about the state of US economy. Therefore, according to NBER, the US - global economy is now in a state of recovery.

So many leading economists however question government-affiliated research groups version of the story. Given increasing levels of unemployment, house foreclosures and government deficit it is evident the US in conjunction with Europe are in deep economic troubles similar to the depression before the Second World War.

But the question is would there be a new industrial recovery for US economy in the future? An industrial economy like America's needs to manufacture consumer goods and it must also outperform other competitors in quality, cost-effectiveness, quantity and innovation. All of these seem to be so far reaching goals given how the emerging economies of Asia, Brazil, India and developing world can outperform US in every one of those fields.

Meanwhile, people should expect Obama and his administration officials to continue painting rosy pictures about the US economy. This is like some physicians who lie to their patients about the actual state of their illness, hoping that some unexplained phenomenon might ultimately change the course of events.

 Emerging economies of Asia, Brazil, India and developing world can outperform US in every field.

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