Don’t always agree with her, but leaning in the direction of her observations and predictions here. The business sector, the government officials, and the population in general just keep looking for signs that the economy has reversed course, and they’re basing those hopes on the model that prevailed in the late 90s and the early and mid-oughts. I rarely see anyone offering comprehensive analysis of the dire situation we’re in, and taking a broad-based look at all of the contributing factors. People are seizing on what might be interpreted as a positive sign in one sector, and basing predictions of a full and permanent recovery on it.

The economy tanked because there were problems with the basic business model being utilized by the financial institutions. Continuing to use a broken model, while blaming the meltdown on any one of a variety of contributing factors (depending on your political outlook), will not result in recovery. It will almost assuredly delay it, and make it a more painful and difficult process.