The chart below compares the aftermath of past bubbles to the current aftermath of the latest bubble. It's from "The Pragmatic Captalist" on Seeking Alpha, and it is sobering:
"L" is for Long Slog.
Between this history, the unresolved overhang of toxic "assets", Washington's unwillingness to allow the financial system to purge itself of this bad debt and plans for greater regulation of the U.S. economy and much higher taxes on small businesses and others, we're looking at an L-shaped "recovery," at best, folks.
The economy has stabilized from its free fall late last year, as I predicted when I started this blog in January, but it's going nowhere fast from here (not up at a fast clip, at least) unless the economic policy outlook changes dramatically for the better.
