Henry Blodget interviews Dan Gross on the Newsweek cover:
America’s Back! Let’s Just Hope Newsweek Doesn’t Jinx the Recovery
America is Back!, Newsweek declares this week.
Cover-story author Daniel Gross says the economy is making a strong comeback, defying the odds and surprising the naysayers. “The turnaround we’ve had since [Lehman Brothers' bankruptcy], while not completely satisfying, has been pretty remarkable,” he tells Henry Blodget in the accompanying clip.
A combination of unprecedented government intervention matched by rapid restructuring and increased productivity in the private sector has resulted in an economy stronger than anyone would have imagined just 18 months ago, Gross argues. Although the National Bureau of Economic Research – the official tracker of recessions – continues to wait to officially declare its end, Gross dismisses their hesitation, saying economic forecasters “have consistently underestimated the rate of economic growth.”
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