The Financial and Economic Argument for No Green Shoots: No Deus Ex Machina for the Economy. 10 Charts Showing why There will be no Second Half Recovery in 2009.
The second half recovery argument took a significant blow last week when it was announced that 467,000 Americans were laid off in the month of June. This number understates the problem because of BLS tinkering with the birth/death model and the headline number does not reflect the over 9 million Americans who are working part-time but want full-time work. It also was little help that the state with the highest GDP in the nation is unable to manage its own finances and now finds itself in a $2