NEW YORK CITY—Usually, five years into an economic recovery, things begin to look frayed and the fear begins to take hold that the next recession is around the corner. But not this time, says New York City-based Stuart Saft, a partner at Holland & Knight LLP.
Saft exclusively tells GlobeSt.com that this can be due to “the result of how steep the fall was in 2008, the subsequent deleveraging or the way the planets line up, but this time it is different.” He pointed out that what we are seeing is more than a recovery—“we are in the midst of a transformation in our economy.
Saft says “The US is suddenly the largest oil producer in the world and the price of oil has plunged 40% in a few months, which means that consumers will be paying lower gas and home heating costs thereby putting more money in their pockets,” says Saft. “America has a supply of natural gas that could last hundreds of years, making us almost permanently free from the addiction of imported oil. Our deficit has fallen from $1.4 trillion in 2009 (9.8% of our GDP) to approximately $500 billion (2.8% of our GDP). In fact, the GDP is up 3.8% in the third quarter.”
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
