I like this guy but his Wall Street cheerleading kind of blinds him to the facts. Sort of like Larry Kudlow who sees sprouts in his coffee. The labor participation rate is almost 1% point lower in 1/12 than it was in 1/11. This does not happen in healthy, growing economies.
Our economy will continue to contract for the foreseeable future. Only once majority of Baby Boomers are dead will it grow again.
Another thing that doesn’t happen in healthy, growing economies is for gasoline consumption to go down.
Why Is Gasoline Consumption Tanking? (February 10, 2012)
http://www.oftwominds.com/blogfeb12/gasoline-tanking02-12.html