'Glimmers of hope' amidst financial crisis?
Obama sees 'glimmers of hope' amidst financial crisis
WASHINGTON: US President Barack Obama has said the battered American economy was "starting to see glimmers of hope" but cautioned that a lot of
work is still to be done to bring it "back on track".
"We're starting to see progress. If we stick with it, if we don't flinch in the face of some difficulties, then I feel absolutely convinced that we are going to get this economy back on track," Obama said on Friday after receiving an update from his economic team on the current financial situation of the country.
Stating that there is still a lot of work to be done to bring the economy back on track, the US President said, "Over the next several weeks you will be seeing additional actions by the administration."
"Right now, we're still seeing a lot of job losses, a lot of hardship, people finding themselves in very difficult situations... they've lost their home, they've seen their savings deteriorate," he said.
Without elaborating on the "additional actions" to be taken by his Administration, Obama said he wanted to emphasise the progress they're seeing.
"The economy is still under severe stress and obviously during these holidays we have to keep in mind that whatever we do ultimately has to translate into economic growth and jobs and rising incomes for the American people," Obama emphasised.
http://timesofindia.indiatimes.com/World/Glimmer-of-hope-amid-slump-Obam...
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What do you think guys, is it taking a U turn??.. can see upward trends in the stocks at US, India..etc wht do you think?.
the only way is up... the question is have we really hit the bottom yet or is it still to come
Md you are absolutely right. stocks are not money.
They r not saying everything is back to normal. some small indications are seen, there wre reports from Canada too that the Banking sector has started to show indications. Unemployment, exports .. will deffinlty take its own time i guess.
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Listen to Many..Speak to a few.
The stocks are not "real" money. The stock market reacts to rumors, hopes, fears, etc. Unemployment rates, consumer spending, export figures, these are real indicators. Hundreds of container ships are jobless!