[bert]

I posted this on another thread but it is applicable here....

.....Volcker said the financial system has been “stabilized” and the economy is recovering.....

That seems to be a true statement.

The time line for the former was short.

The time line for the latter has been interrupted by meddling and political uncertainty. The slope of the recovery curve is near flat, almost parallel to the time axis. Employment and production are now fixed at a rate permitting survival and some profitability.

A breakout beyond those levels won’t come until the extent of the political damage and uncertainty is resolved.

Meanwhile, inflation is coming

Thus saith Bert

[concerned about politics]

Never listen to what they say. Watch what they do. Actions always speak louder than words.

Schools are contemplating shorter school weeks. Others are suggesting early graduation. They're broke for the long run, and they know it.
Government pension reductions are being discussed. This is also a long term deal.
@ Half a million jobs are being lost every WEEK. Almost half a million!
Because people are doing things based on a longer term problem (no incomming tax revinue in sight), I'd say we're a heck of a lot worse off than we'd like to believe.