Mike Shedlock, who posts at Mish’s Global Economic Trend Analysis, finds that any claims of a “V”-shaped recovery are unsupported by the facts. After a series of compelling charts he remarks
If you believe that constitutes a checkmark recovery (or even a “V” shaped recovery), then you are only fooling yourself.
In all likelihood the best case scenario right now is a “U”-shaped recovery.
BTW, have I mentioned that public debt is now over $13 trillion and stands at 89.4% of GDP, the highest since 1960 when we were still paying down the debt incurred during World War II?
