If this is a "recovery", then I need to take high school english again. Recovery from an injury means regaining health and mobility. I see little health in the following stats considering the massive stimulus it took us to get there.
First of all, how do job loss trends like this...
...translate into increasing home prices?
It must be this...
...since I don't see a rebound in Buffet's favorit metric...
...or here in US daily oil consumption (even though the reported numbers are only until July)...
Bottom line. All I see is a little prop up, not recovery. Remember, my previous blog mentioned that we are now at the peak effect of the stimulus and that it will wear off from here. At least the headlines have toned down from the cheery "That was easy!" messages of two months ago. Let's see if they turn into "This is kinda hard?" in March when the Treasury stops buying agency debt.
1 comment:
Solutions are far and in between.
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