The Recession: It Doesn’t Feel Over
What’s the old line? It’s a recession when your neighbor is out of work. It’s a depression when you’re out of work.
Earlier today, the chairman of the Federal Reserve said the recession was probably finished. He may have missed yesterday’s Times, which reported the job losses continued – 5,500 positions at Eli Lilly. (The Federal Reserve isn’t the official arbiter of a recession anyway – that’s left to a council of economists to measure the country’s economic growth.)
The slow recovery matches so many descriptions of an economy being reset.
So is there a recovery or a reset? Can Americans keep up their increased savings? Will they want to? What changes in spending habits do you plan to make?
Categories: Tangents
