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?
Macro Musings Blog
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
ReplyDeleteAnonymous:
ReplyDeleteYou inspired me to go look at the coincident indicator for MI over the past few decades. I posted what I found above.