Donald R. Libey

Donald R. Libey
Signs of the Real Economic Recovery

Having observed the direct marketing industry for 30 years, I find one aspect of economic downturns and recoveries is always true: The recovery takes longer than the downturn. The drop is always faster and more visible than the recovery. Business can plummet in one day, as it did on Sept. 12, 2001, and then take years to climb back. The 1929 stock market crash on Black Friday took only a day or two to trigger the Great Depression; and the years of recovery following were long and arduous for America and, indeed, the world. The beginning of a downturn usually is marked by a