Dennis, like you, I believe a recovery is underway. From what I can tell, Q1 was the bottom, and we will see a rolling recovery. You know what that is, but I should tell my readers that’s it’s when the whole economy doesn’t recover at once, some sectors come out of the slump a bit faster than others, so the whole economy takes some time before the recession is declared to be over.
But Dennis, I know that you feel bashed, unrightly so, and people have called you names. But from where I sit, the search Dennis Kneale Idiot yields 35K hits on Google, but the same search with our president’s name yields just under 3 million. And Britney Spears Idiot just under one million. Even Albert Einstein Idiot yields 210K results. I suspect in your case higher numbers mean name recognition, but I plan to do my part and refer to the end of this recession as the “Dennis Kneale Recovery.” Remember, I coined that phrase. Meanwhile, take a breath, anonomous bloggers (me included) can say what they will, but it’s their long term record that builds credibility. Many who took shots at you won’t be blogging by the time NBER declares the recovery. After all, it took a year before they declared the recession had begun. Best wishes to you, Dennis.
As I pointed out before, the Great Depression was not without rallies, even one of similar proportions to the one that began in March. However, I’m sorry to say that the numbers indicate that the worst is not over yet. Rather, if compared to the Great Depression, we’re just half-way through. But once the recovery starts, if the government doesn’t socialize more of the economy, whoever has cash on hand will be able to make handsome profits.