Preparing for Recovery


The recession is over — but it doesn’t feel like it to anyone except economists. When I see a guy fall into a ten-foot hole, I say he’s in recession. When he hits bot­tom, picks himself up, and takes one step upward, I say that he’s out of recession and in recovery. The truth is that he’s nine feet down a ten-foot hole. That’s exactly where the American economy is today.

The strengths leading to the recovery include con­sumers having money in their pockets, thanks to hav­ing raised their savings rate in 2009. Businesses need to re-stock their inventory, which … Read the rest