John M. Berry had a really great commentary up on Bloomberg.com.
The resilience of the U.S. economy in the face of a devastated housing sector and a financial crisis is amazing. The severe recession some have predicted is still nowhere in sight.
The odds are at least 50-50 that the current period of economic weakness won’t be labeled as even a mild recession.
Check it out if you’re into this stuff. I hope it helped un-freakout a few people who keep on hearing bad new upon bad news.
Severe Recession Is Nowhere in Sight: John M. Berry
