U.S. Economy Shows Signs of Crawling Out of Hole
WASHINGTON (Reuters) - Call off Depression 2.0.
While still far from health, the U.S. economy is showing some encouraging signs of life as consumers tiptoe back to the shopping mall, home builders pick up their hammers, and manufacturers clear out inventory.
That suggests the soon-to-be-completed first quarter will be as bad as it gets, and apocalyptic fears of another lengthy, painful Great Depression look unwarranted.
HT: Paul Kedrosky