Summary
CONSERVATIVE commentators such as Newsweek's Robert Samuelson say warnings about America's economy are exaggerated "fear-mongering." In reality, they assert, the $14 trillion U.S. economy, the world's largest, is so huge that it won't be damaged much by current alarms such as the subprime mortgage mess.
Maybe they're right that little harm will befall the prosperous segment of America, such as well-educated young urban professionals (yuppies) with secure careers, Volvos, ski condos and the like. They, like the upper brackets, glide gracefully over recessions.See the full content of this document
Extract
Economy: ; Complex Problems
But the downturn is painfully real to many others who feel its effects personally. For example:
* America lost 63,000 jobs in February, the worst setback in nearly five years. ...See the full content of this document
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