A Few Thoughts About The Recovery….
by Tom on April 18, 2009
in Market Musings
I like this article for two reasons:
- I really like Daniel Gross’ description of the cheap capital that has been spread around.
- He acknowledges quite well how all of the positive items have come with “asterisks.”
A worthwhile read…..
Tom Vanderwell
Is the economy really showing signs of recovery? – By Daniel Gross – Slate Magazine
Economic theory tells us we should be able to detect some green shoots, if only because so much fertilizer has been spread around in the form of cheap capital.But for now, every piece of good news—every green shoot—bears caveats. While Goldman Sachs had a great quarter, that was only because it shifted its reporting calendar to exclude December 2008, in which it rang up a loss, from the results. JPMorgan’s Jamie Dimon said things were going so well it might be able to repay the funds it borrowed from the government sooner rather than later, but he also warned that credit card debt is going bad.
Comments
2 Responses to “A Few Thoughts About The Recovery….”