THE RECESSION ENDS TODAY at 5.Adult beverages at 6.Save this blog for proof 12/09.
Ok maybe not at 5 today but an esteemed writer working for the good folks at Zacks makes some rather salient points pending the handling of the GM/Crysler fiasco. I will say this will be the slowest recession recovery in American history The article is presented below for its perusal.
" The four-week average, which is a much more significant measure given the inherent volatility of the series, fell to 625,500 -- a decline of 14,750 from last week"
"...TED spread, or the difference between what banks charge each other for very short term loans over short term T-bills, is now down to 77.5 basis points, down from a peak of 464 basis points during the height of the crisis last October. This shows that the banks now have a lot more confidence in each other than they used to."
" Unfortunately, the scale only shows the BDI, not copper, but it was well over $4 a pound at the top, fell to around $1.25 and is now back at $2.18 a pound."
I will say this will be the slowest recession recovery in American history