Recovery… from… what?
2 October 2009 by Christopher SuleskeHOW can there be a recovery from something when the underlying conditions of that something have not been fundamentally altered? I read a lot on the subject of the condition of the U.S. economy, but seldom from sources populated with talking heads, since they are usually parroting one another and are, in effect, parroting whatever they are intended to parrot. It is with bitter delight I read that some of the more commonly quoted sources are now reporting things I’ve been reading for a while. Here is Bloomberg today:
Oct. 2 (Bloomberg) — The number of U.S. lenders that can’t collect on at least 20 percent of their loans hit an 18-year high, signaling that more bank failures and losses could slow an economic recovery.