It's easy to take a couple months of charts and declare that the future will continue the present trend. That's what the Green Shooters/Recovery crowd is doing.
But when you step back and put things into historical perspective, when you analyze the fundamentals of the economy, then it changes everything. It smooths out all the temporary stimulus created by the federal government that is destined to run out soon.
For those who claim that unregulated- or even, partially regulated- free markets can work on a macro level, I suggest first reading this story which seems to be anonymously authored but may have originated here in the internet version, and given the currency might indeed be a much older tale in India (we forget, but before the Socialists and the English, India had a 2000 year history of free markets and the dangers therein).
I have reviewed statements of finance ministers from the G7 nations in which they admitted they were undertaking secret actions out of the public eye for fear that public knowledge of their actions would destroy the very effectiveness of their actions. To me, this sounds like an incredible admission of propping up action.
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