Sustained unemployment would eventually put a damper on the market's early gains
So far the main beneficiaries in the nascent recovery have been well-off, says Microsoft CEO Steve Ballmer. For things to really bounce back, things need to get better for everyone else.
I caught up with Ballmer at Microsoft's (MSFT) Redmond headquarters last week, and we covered a wide range of topics. His overall message: Microsoft has a lot of big launches across productivity, mobile and entertainment, and expects to do well. But he also offered his nuanced perspective on the U.S. economic picture. More
The preferred exercise at Davos so far is hand-wringing.
Concern over the future of the economy and finger pointing over what went wrong have dominated the first day's discussions. There's even an emerging buzz expression to capture the fears of the financierati. It is "10 and 10," and refers to the unhealthy combination of 10% unemployment in the United States with 10% economic growth in China. You can't have it both MOREAdam Lashinsky, Sr. Editor at Large - Jan 27, 2010 9:50 AM ET
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