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By Robert Reich
Published: March 23 2010 22:30 | Last updated: March 23 2010 22:30
Can the American economy recover if only its big global companies, Wall Street and high-income Americans are doing better but its small businesses and middle and lower-income Americans are not? The short answer is no.
The earnings of companies in the Standard & Poor's 500 stock index tripled in the fourth quarter, but this does not mean the rest of the US economy is doing well. Much of their sales were into fast-growing markets in places like India, China and Brazil. Meanwhile, they continued to slash jobs and cut costs at home.
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