Dow up 50 Points...
When I wrote that in April 2008, the U.S. was already in a recession marked by the vertical gray bar below (backdated well after-the-fact of course) i.e. it started with first quarter down, second quarter up...
From ECRI: US Money Slump Flashes Warnings as Economy Contracts
The Scylla and Charybdis of Deflation and Inflation
Fiscal and Monetary Stimulus are Being Withdrawn Into a Slowing Economy
"The concern is that this recovery may die of old age after five years, even though it has been the weakest expansion since the Second World War, failing to close the output gap or bring the long-term unemployed back into the workforce. The Fed fears it has exhausted its arsenal. “It is too awful to think about what will happen in the next recession, so nobody does,” said Mr Achuthan."
The Dow Jones Illusional Average
"And everyone lived happily ever after..."