I don't know if any of you are aware but the economy is slowly picking up and experts have predicated the recession is pretty much over. Dow Jones hit 9500 pt mark. Ist time since last yr and the industrial production has picked up in JULY.

Many of you were worried that the NBA cap situation would hinder the knicks chances of getting 2 superstars. I truly didn't believe the NBA would incur more losses leaning towards 2010:

According to this report: http://realgm.com/src_wiretap_archives/61240/20090821/will_good_economic_news_impact_2010_cap_projections/

With Federal Reserve chairman Ben Bernanke offering his most positive assessment of the condition of the U.S. economy since last year's crisis, it is not clear if or how much the unexpectedly good news could affect the NBA's projections of a declining salary cap next year.

In early July, according to a memo to teams that was made public by ESPN, the NBA league office predicted a 2.5% to 5% drop in basketball-related income, which would cause the salary cap to fall to between $53.6 million and $50.4 million, respectively.

Bernanke today said the recession seemed to be at its end and that "the prospects for a return to growth in the near term appear good."

It is not known whether the NBA's projections were based on a slower pace of recovery than seemed to be indicated today, or whether a faster and more robust economic rebound than anticipated would impact the basketball-related income that will determine the salary cap level in 2010.

With a number of star players expected to become free-agents next summer, teams have made financial plans based on the league's projections of a declining cap. The present NBA off-season has been marked by a sluggish free-agent market and a general unwillingness by teams to add to payroll.

Let's pray man. The last thing we need right now is a $50 million dollar cap while we're trying to get better.