Have we really escaped a recession? Google it.
“There is nothing like animal spirits to drive markets. Keynes diagnosed them long ago, and they have a huge impact on trading. Thus, the brief but severe recession fear of midsummer has allowed last week’s much more positive data on U.S. employment to feel more like an exit from a recession that has happened, rather than a reduction in perceived risk of one.”
USAGOLD note: Authers puts a finer point on things in this highly relevant analysis based on Google searches for the word “recession.” The charts he posts and an annotated chart from one of his readers is worth the visit.