Rachel Maddow reviews what has happened in America since President Obama
took off on his first trip
abroad: a dismal earnings season has
begun, the unemployment rate has
continued to rise, executives expect more
layoffs–and yet, consumer confidence is growing. Does this mean the
economy is improving? Princeton economics professor and New York
Times
columnist Paul Krugman says public optimism doesn’t matter as much as
the state of the credit markets, which “are inconceivably bad by normal
standards,” and the regulatory reforms of Tim Geithner and Larry
Summers, “smart guys–ask them, they’ll tell you,” who are unfortunately
pushing a bad
plan.

—Corbin Hiar

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