Although there are still tough spots in the economy, Michael Yoshikami, president and chief investment strategist of YCMNET Advisors, said he doesn’t believe the United States is in a long-term bear market.
“I think the markets have demonstrated that they’re very resilient,” Yoshikami told CNBC. “The point has been made that there’s tremendous amount of leverage throughout the system, and I think that’s a good point.”
Yoshikami said the difference between the Great Depression and the present recession is that we now have a globalized economy.
"Countries like China throwing tremendous amounts of money into their system will help out countries including the U.S.," he said.
“The bottom line is that globalization is occurring and we're starting to stabilize,” he said. “I think China’s beginning to lead us out to recovery along with the United States.”
No immediate information was available for Yoshikami or his firm.
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