Gallup CEO Blasts US Leadership "The Economy Is Not Coming Back"

From Zero Hedge:

The U.S. now ranks not first, not second, not third, but 12th among developed nations in terms of business startup activity as Gallup CEO Jim Clifton rages, for the first time in 35 years, American business deaths now outnumber business births. Wall Street, Clifton explains, needs the stock market to boom, even if that boom is fueled by illusion. So both tell us, "The economy is coming back." Let's get one thing clear, he exclaims, "this economy is never truly coming back unless we reverse the birth and death trends of American businesses."

Until 2008, startups outpaced business failures by about 100,000 per year. But in the past six years, that number suddenly turned upside down. There has been an underground earthquake. As you read this, we are at minus 70,000 in terms of business survival. The data are very slow coming out of the U.S. Department of Census, via the Small Business Administration, so it lags real time by two years.
Net Number of New U.S. Firms Plummets
Business startups outpaced business failures by about 100,000 per year until 2008. But in the past six years, that number suddenly reversed, and the net number of U.S. startups versus closures is minus 70,000.

http://www.zerohedge.com/news/2015-01-14/gallup-ceo-blasts-us-leadership-economy-not-coming-back