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...permanently lost its resilience and vitality. They believe that, for the first time in memory, America cannot rebuild itself after a severe economic cataclysm and that the business base of the country is not creative enough or elastic enough to come back to where it was just two years ago...
...they are in the midst of this dismantling of what it took the business community three decades to create. The reason that their forecasts may be wrong is that they are born of despair more than logic, just as the forecasts of permanent prosperity that were prevalent five years ago were born out of the mania caused by a historic inflation of real estate, unprecedented leverage, and ballooning stock markets...
...There is a diversity of thinking about where America's next large wave of employment will come from. It may be alternative energy businesses. One hundred and twenty years ago no one would have believed that the oil industry would be one of the largest employers in the country. The biotechnology industry may grow large enough to be the size of the pharmaceutical industry was a few years ago. Or, the next large opportunity to create jobs may be as improbable as the technology revolution was as recently as the 1960s...
...market stalls. That would leave the Dow Jones Industrial Average at around 9,200, or about where it was in early October, just after the initial $700 billion bank rescue plan was passed by Congress, though still well off the market high of 14,000 set two summers ago...
...where the H1N1 virus emerged from pigs into people (or vice versa - over the weekend, Canada confirmed reports that a swine worker in Alberta passed the H1N1 virus to pigs). The H1N1 virus contains human, avian and swine flu genes, and genetic analysis indicates that it reassorted years ago, meaning it could have been in pig populations for some time before the virus gained the ability to transmit easily from person to person. If we had had tight surveillance of flu infections among swine, we might have noticed that something bad was brewing. (See pictures of thermal scanners hunting...