Monday, June 8, 2009

Just When You Thought There Were Signs of Recovery...

Jim Hamilton reminds us that a broad look at the data indicates we are far from a robust recovery. Meanwhile, the King Report (via Barry Ritholtz) dashes even the seemingly one sure sign of recovery, the smaller-than-expected decline in NFP employment. It is widely understood that the key to a robust recovery in the U.S. economy is a restoration of household's and bank's balance sheets. How long will that take?

2 comments:

  1. Yes, and those poor folks in Michigan are still awaiting the recovery from the 2001 recession, never mind this one. I have an uneasy feeling that the Michigan type 10-year stagnation may yet come to be the story for other parts of the US

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  2. Anonymous:

    You inspired me to go look at the coincident indicator for MI over the past few decades. I posted what I found above.

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