Samuelson: Will U.S. Recovery Go Global?

WASHINGTON POST, 8/17/2009 by Robert J. Samuelson (Hat tip: John H. Detweiler) - Before we get too giddy about any U.S. economic "recovery," we should remember that the preceding economic collapse was global. No recovery can succeed unless it, too, is global. Will that happen? The world can no longer rely for growth on free-spending Americans, who are overburdened by debt and sobered by trillions of dollars of losses on homes and stocks. Without a substitute for American buying, any global revival will be feeble, because the United States needs export-led growth and other countries must somehow offset their lost sales to our market. Read more at the Washington Post...