Salient to Investors:
Fareed Zakaria writes:
- The great American housing market is back. The American economy has again shown its core character of flexibility and resilience.
- The US is the only rich country in the world whose population is growing – by 3 million a year, mostly legal immigration.
- Americans have been paying off their debts at a steady clip since the financial crisis. US corporations are more ruthless in restoring productivity and often come through a crisis stronger and faster.
- American banks are far better capitalized and more secure and have much stronger balance sheets than their European competitors. Recovering home prices will create a virtuous cycle between credit and housing that will enhance both stability and growth.
- Jennifer Bradley and Bruce Katz say cities and counties across the US are getting over political divides, partnering with the private sector and investing for future growth.
- Washington handled the 2008 financial crisis extremely well, unlike Europe or Japan.
Read the full article at http://www.time.com/time/magazine/article/0,9171,2144542,00.html.
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