[smith288]

Recession's Woes.... Like the recession is in a woeful state...not the economy...

OOOPS

[JohnOG]

This catchy little column misses the point......
The point is....we ARE NOT in recession but a period of tepid growth at best....what growth there has been in GDP has been largely fostered by increased Government spending and consumers going into more debt....
In 2002 we saw "improving economic numbers" mid-year just as we are seeing this year....it did not lead to a Bull Market in stocks and these temporary, tepid numbers will not either....an economy should not have to depend on the refinancing of homes just to keep it out of Recession if it is in such a "healthy recovery." Refinancing a home used to be a rare thing that one did as a last resort.
The moronic financial channels....namely CNBC...whose sole purpose on the earth seems to be to convince the general public that we are in "a Bull Market" make bigger asses out of themselves each day.
Thanks, John.