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MONEY matters

Mark Zaifman's thoughts on money, global economic trends and politics

Addicted to Debt

Mark Zaifman   |    Tue, Apr 07, 2009 @ 06:29 PM

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There is an article in the New York Times today called The Economy’s Green Shoots; Real or Imagined. Green shoots was a term Ben Bernanke used on his 60 Minutes interview when describing his perceived growth in the economy.

In the article, opinions by a few economists are given, both supporting and disagreeing with Bernanke's statement, including Charles Lewis, a former investment banker. Here’s an excerpt from the article written by Lewis:

“I am more optimistic than many observers because I’ve witnessed much worse economic conditions and seen us recover from them quite nicely. We are not being bombarded by the kinds of societal shocks we endured earlier. And, most importantly, I see signs that we have taken the first step to recovery – we are beginning to admit that we all have been addicted to some extent."

Using addiction and recovery terms - with everything from opium to beer, read Charles Lewis optimistic piece, On the Road to Health.