Are Happy Times Here Again?

[Max Sawicky]

I have no friggin' idea.  I do know that my office mates' resolve
in expecting a level unemployment rate for the rest of the year
is melting.  And I'm going to have to rewrite my "stimulus"
issue brief.   -- mbs


> > Max Sawicky wrote:
> > >Quite possible.  The latest unemployment numbers, in and of themselves,
> > >suggest the recession is over.  -- mbs
> >
> > You could argue that it ended late last year even - lots of things
> > reached their extremes then, and have been trending higher since.
>
> Look, I understand that the monthly data is trending higher. I understand
> that 4th quarter GDP was significantly positive. I also understand the
> desire to avoid catastrophism. But do you really mean that an
> "expansion has begun" in the conventional sense? . . .