The 'recovery' that isn't

Here's more proof - not that any is needed - that the Obama recoveryless recovery is not really a mystery if you look at the numbers. IDB: "There is much more work that remains to be done to repair the damage caused by the financial crisis and deep recession," wrote Alan Krueger. Obama himself has used this excuse. "From the moment we first took action to prevent another Great Depression, we knew the road to recovery would not be easy; we knew it would take time," he said last week. But the history of economic cycles suggests that the exact opposite should have happened. "Typically following a recession, the economy rebounds strongly," Richmond Federal Reserve President Jeffrey Lacker noted in the bank's quarterly journal. What's more, deeper recessions tend to produce strong recoveries. "You can't find a single deep recession that has been followed by a moderate recovery," Dean Maki, chief U.S. economist at Barclays Capital, said back in August 2009. The 1957-58, 1973-74 and...(Read Full Post)