4.21.2008: Inflection Point

April 21, 2008

A number of news events in the past week alone indicate without question the U.S. economy is at a dangerous inflection point, but so far, no one-no economist, analyst, fund manager, regulator, legislator, president or CEO-is willing to put together the pieces to talk about something other than snapshot first-quarter, year-over-year or historical trendline data that make a case for the return of the markets. Actually, it's what they are not saying that is most troubling. Namely, the snowballing layoffs and the incredibly wide disparity of wealth and opportunity in America-even for those with talent, experience and means.

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