Mustard seeds (or green shoots, if your prefer) are appearing everywhere, from credit markets to manufacturing to housing. And of course the 40 percent surge in the U.S. stock market since mid-March is hard to miss.
Here is an interesting take on the GM nationalization from David Warsh via his review of the book
The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World
President Obama struck an optimistic note today on the New GM:
I am absolutely confident that if well managed, a new GM will emerge that can provide a new generation of Americans with the chance to live out their dreams, that can out-compete automakers from around the world. When that happens, we can truly say that what is good for General Motors, and all who work there, is good for the United States of America.
President Obama contends he inherited the nation’s ongoing economic problems and that his actions since taking office are not to blame. Sixty-two percent (62%) of U.S. voters agree with the president that the problems are due to the recession that began under the Bush administration.