They say slow and steady wins all the time, and right now it's looking like it's true with respect to the economy and stock market. You can argue the recovery has been steady, and there's no doubt it's been slow, which makes the correlating move in stocks puzzling.
U.S. teens have not been included in the economic recovery. From the total employment peak in November 2007, nearly one and a half million jobs held by teens disappeared by October 2009. That number of lost jobs for teens has since increased to 1,607,000
One would think inventory would be tight because homes should be selling as fast as they come to market. Not this time, because it’s different. You have to have a job to qualify for a home loan regardless the interest rate.
How far behind can America be? Our media says we are in a “recovery” incessantly. We are told that because the stock market is rising, because housing is enjoying a few signs of life (at bankruptcy prices), and because cars are selling better than the terrible rate they sold at last year, that the U.S. economy is doing well.
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The optimistic scenario for the economy is generally inconsistent with the weakening spate of recent economic statistics this week including ISM and jobs growth.
At least, that is pretty much what the White House is claiming. Bloomberg says there’s actually “a lot of good news” in the report, and Reuters asserted that the Sequester is responsible for abysmal job numbers.
The Wall Street Journal of Feb. 27 tells the story in its own headlines. On page C1, the story was, "JPMorgan Pulls Belt Tight," while on C3 the headline read, "Wall Street's Bonus Pool Hits $20 Billion." If that doesn't describe this crazy false recovery we are allegedly undergoing, nothing does.