If academic economists listened to individual companies, instead of focusing on Washington or blaming the banks for everything that’s gone wrong, they wouldn’t be predicting a double-dip recession, says The Street's Jim Cramer.
What would change if they did that? According to Cramer, academics would realize that, for the first time in a long time, the fundamentals of individual companies now matter more.
“I’m going with the companies,” Cramer says.
Even though emerging-market economies may be providing the engine for this recovery train while the United States is the caboose, “we’re moving again, and that’s what counts,” Cramer notes.
“Growth is pretty much in all regions, driven very strongly by increased global activities,” he says. “The companies are telling us the truth.”
MarketWatch reports that Moody’s has joined those who think Canada’s economic recovery is ongoing, even if the U.S. economy falls back into recession.
Jimmy Jean, an economist at Moodys.com, says Canada’s economic recovery is safe, even if the U.S. suffers a double-dip recession.
“It is often thought that when the U.S. sneezes, Canada catches a cold,” Jean wrote in his report. “But with the shift toward a service-oriented economy over the last three decades, Canada has grown more immune to U.S. woes.”
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