The economy's hard take-down last year was due almost entirely to a longstanding government policy that forced banks to lend to unworthy borrowers plus missteps in Fed interest-rate policy.The combination of soaring oil prices, bad mortgages, a collapsing housing market and rising interest rates crushed much of our financial infrastructure, causing mass bankruptcies, layoffs and a financial crisis that hammered economies around the globe.
But now, after months of seemingly nonstop bad news, there are hopeful signs on the horizon...
This editorial from Investor's Business Daily then goes on to list those "hopeful signs." I'm not an economist but this made for some interesting reading. Check it out.
