On vacation, a note about economic stabilization

For the first time in quite a while, things are not really as bad as they were

Published August 6, 2009 4:06AM (EDT)

How the World Works is headed to the East Coast for an extended vacation: No e-mail, no tweeting, no Facebook updates, no obsessive watching of weekly jobless claim statistics and the latest dirt on Larry Summers.

And you know what? For the first time in about a year and a half, I don't feel a sense of panic that things might fall apart while I'm not paying attention. Last summer, and last Christmas, when How the World Works took a break, the global economy was not just in a parlous state -- it seemed on the verge of flying apart at the seams.

The U.S. economy is still in terrible shape, no doubt about that, and the situation could continue to deteriorate. But the threat of imminent collapse, of a Second Great Depression, has receded.

As good a time as any to catch one's breath. I'll be back August 20th, ready for massive health care and climate change battles and whatever else seems worth ranting about. See you then.

By Andrew Leonard

Andrew Leonard is a staff writer at Salon. On Twitter, @koxinga21.

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