Other hopeful indicators are nongovernment deleveraging is over at last and the stock market trend is up. Small business recovery is underway with the purchase of small trucks, a leading indicator. Credit contraction has stopped and the threat housing will decline and hurt the economy as it did in 2007 is no longer there.
QE2 is getting a big push back from our global trading partners and even within the Federal Reserve itself. It’s becoming apparent this type of monetary policy is no substitute for more powerful pro-growth policies and the best news of all with the heralding in of new dynamic private companies; entrepreneurship is not dead.