The Great Recession is passing, but not its effects.
- GDP is reasonable.
- Household incomes are down.
- The Federal deficit is declining, temporarily.
- Unemployment is down, but the participation rate is at a record low.
- House prices are up but homeownership is declining.
- Federal debt is stablizing, and Federal assets are increasing.
- The stock markets are at records, but the bond interest rates are low.
The summary, whew we got through all of that, but there is a lot of work to do and some major things that still need to be fixed.
“Seven Years Since The Recession Began: How America Is Faring” – The Economist
Pretending Not To Panic 