Some major corporations are simply shutting down because going through Chapter 11 is too tough and lenders aren’t in the mood to help rescue a faltering firm. This trend which includes retailers like Circuit City, Mervyn’s, Linens ‘N’ Things and Sharper Image suggests not only an economy badly in need of recovery but also a nation in need of a morale boost. So how does that happen? What policies will work? And what can President Obama or anyone else say to cheer up a country drifting through very rough economic waters? We ask Daniel Gross, senior editor at Newsweek. His latest article is entitled “The Quitter Economy”.
