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...Phelps view, which is a remarkably dark vision of America's future, is right. This desperate image of the national economic life assumes that the innovative power of American business cannot build another huge sector the way that it did in the 1970s with the rise of the great technology companies like Microsoft (MSFT), Intel (INTC), and Cisco (CSCO), and twenty years later Google (GOOG) and the second reincarnation of Apple (AAPL), which was built on nothing more than the ingenuity behind the iPod and the Mac. (See pictures of the iPhone...

Author: /time Magazine | Title: Despair and the Vision of the New Economy | 5/5/2009 | See Source »

...thousand people lost jobs last month, according to most estimates. Two and a half million people have lost work since the beginning of the year. A housing recovery cannot occur in the presence of the massive collapse in unemployment. The devastation of the potential home buying base is too great. Many of the people who lose jobs will also lose their houses and that increases the inventory of unsold homes...

Author: /time Magazine | Title: Despite Signs to the Contrary, Real Estate Will Get Worse | 5/5/2009 | See Source »

...sale price of their hogs does not meet the cost of raising the animals. The recent price fall could be realized as a $10 to $20 per head loss in the next 12 months, predict Ward and Iverson. Pork processors have already lowered their bids for pigs, given the great degree of uncertainty in predicting the demand for pork...

Author: /time Magazine | Title: Amid Swine Flu Fears, the Pork Market Falls Ill | 5/5/2009 | See Source »

...stock market is up 34% since early March. Credit market conditions are easing too, if less dramatically. Housing sales are picking up in some of the hardest hit markets, though prices are still dropping. Measures of business activity and consumer sentiment are returning to levels last seen before the great global financial panic of last fall. (Read about the impact of swine flu on the pork market...

Author: /time Magazine | Title: Why the Economic Recovery May Be Disappointing | 5/5/2009 | See Source »

...LIFE IS SO DIFFICULT!! FML!!), and of course, FlyBy's favorite—recounting highly storied anecdotes from their time as a precocious child budding with Ivy League potential ("Alfonso was always the first to finish coloring in his kindergarten class—we always knew he would do great things...

Author: By June Q. Wu | Title: Baby Einsteins Go To Harvard | 5/5/2009 | See Source »

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