Posted by: Sanity Rules | July 5, 2010

Can we say it now? DEPRESSION

Wasn’t this supposed to be the “Recovery Summer”?  While almost no one is saying the word, this looks like a Depression to me and a pretty serious one at that.

  • Home Sales Down
  • Factory Orders Down
  • Retail Sales Down
  • Wages Down
  • Workforce Down 650,000 jobs.

If more than 1 million Americans had not given up on their job search, our jobless rate would be at a post WWII high without including the half-million temporary census jobs.

The first step on the road to recovery is to accept that you have a problem.  If we can’t even say the word, we are still in denial. Our denial has become delusional considering we are in this kind of condition 18 full months into zero interest rates, quantitative easing and a stimulus package that did very little to stimulate us.

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