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America’s prolonged recession.

The summer debacle of debt crisis and the subsequent credit downgrade has discouraged lots of employers. Hiring froze in the month of August and no new jobs were added. The Feds have not given any new proposals if they will be doing something more for the economy. There is nothing on the table. Congress went away on a month-long vacation and so did the President for 10 days leaving the financial cauldron boiling hot. The result? A total lack in confidence, plummeting stock prices, and no new jobs added. according to Harvard economist Ken Rogoff ” We have never left the recession”. It’s just a continuation of the same old recessionary trends.

President is due to give a speech this week and propose another plan for job creation. That all depends if the Congress will do anything with it and if they agree with him. The speech can just end up going nowhere. Lately we have seen that there is a complete paralysis when it comes to action between the President and the Congress.

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