Monday, September 26, 2011

No World Recession

    One of the president's henchmen advisers says no worry, no world wide recession on the horizon.  He is correct, some economies are growing, ours is just not one of them.  Again I say, who really thinks jobs are coming back to this country when other countries can produce for less. 

Jeffrey Immelt, GE chairman, said on Sept. 26 that the growing economies of emerging countries would help prevent another global recession. His comments were made during a visit to India, where he announced a $200-million investment in a new manufacturing facility in the western city of Pune that will create 2,000 jobs. Another world recession "is not what we see today. I don't think it is what most businesses are seeing today. I think it is a mixture of different sentiments that are going on," Immelt said. "Clearly, in the developed world -- Europe, the U.S. and Japan -- the economy is slower, but there is reasonable activity there and the emerging world is still quite strong," he said. Immelt said emerging markets were critical for GE "just as it is for Siemens, United Technologies or Rolls-Royce or any other industrial company."

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