Crain's Chicago Business took a survey and found that while many Chicagoans
don't believe we're out of the recession, they believe that the worst is over.
The business publication said:
In a survey on ChicagoBusiness.com last week,
80% of respondents said they expect the local economy to improve or
stay the same over the next six months. But even as they see the storm passing,
survey respondents were divided on whether the recession was nearing an
end, and the majority remains concerned about the job market and said
they plan to keep a lid on spending. The survey, conducted Aug. 11-13, was unscientific, but the 1,181 responses were in line with recent projections from economists
Whether George W. Bush or Barack H. Obama is in office, I believe that the most controlling factor in health of the economy is the level confidence of the American consumer and investor. Aside from what ever (e.g. stimulus package or the natural flow of the markets) is the cause of increased optimism, that optimism itself will create more optimism. Now, if we can only create optimism faster than the government can print money, we'll be flush.