The Organisation for Economic Co-Operation and Development says we are out of the woods on this recession. Whew, I am glad that is over. Yes, there are clear signs of recovery in all seven of the leading Western economies. Of course ifyou look at different factors, there are clear signs of continuing recession in all seven, but I guess I am looking at the wrong signals.
http://www.calculatedriskblog.com/2009/09/oecd-global-recession-over.html
Seriously folks, these people are smoking something. And apparently Stigi agrees:
http://www.bloomberg.com/apps/news?pid=20601087&sid=a7UTn7JFw1qk
He says things are worse now in the too-big-to-fail banks than they were in 2007, before Lehman failed. He would know. His bigger point seems to be that the government is not being tough enough on the big banks. Amen brother!!!
http://www.bloomberg.com/apps/news?pid=20601087&sid=a7UTn7JFw1qk
And when in doubt, blame it on Greenspan. I agree.
http://globaleconomicanalysis.blogspot.com/2009/09/greenspanism-root-cause-of-this.html
Disclosures: None.
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