New Jersey CFO

The end of the recession will merely be the start of a long, painful journey, says Edmund Conway.

July 9th, 2009

t’s a game of far more than two halves: more tactical than cricket, more stomach-churning than boxing and more complex than bridge. Throughout a magnificent summer of sport, one competition has lasted longer than any other, and generated the most heated debate. Its goal? To guess when the recession will end.

Every week, it seems, has brought new economic indicators, good or bad. Indeed, the whole thing has recently descended into farce: first, economists were tripping over themselves to declare that we were heading for a “V-shaped” recovery, in which we soared out of the downturn at speed. Then they realised that the economy had contracted in the first three months of the year at the fastest rate since, most probably, the 1930s (the quarterly figures don’t go back that far), and started talking about “double dips”.

When Recovery Comes, It Won’t Feel Like It – Ed Conway, Daily Telegraph

Entry Filed under: Important Skills - No Apprentice Programs, Insolvency, Integrity and Responsibility, Let's Call What It Is - DEPRESSION, Negative Cash Flow, No Bank Is Indispensable, Our phony middle class, Patience is a virtue...Delusion is a vice, The Importance of Strategic Planning, The New American Socialism, The Sorry State Of American Manufacturing, Truth In Charity