Dan Tierno

Is the Economy at an Inflection Point?

Thanks for the comments.

At times I find it very helpful, not just myself but to readers, to throw a 30,000 foot view out there, as ubiquitous and as well known as it may be.
It can be very easy to get caught up in the levels of euphoria associated with the economic recovery...the broad view helps to facilitate an interpretation of the fragmented pieces of economic indicators we receive.


On Apr 22 08:34 AM Respirate wrote:

> Cogent summary of current conditions and an enjoyable, persuasive
> read. However, this is a very long way to say what most everyone
> already knows, especially folks visiting this site.
>
> Obviously equities are overbought. Obviously the economy is still
> moving in reverse. In the given circumstances, prudent would-be consumers
> are wise to "save and pay down debt", though I wouldn't refer to
> this appropriate behavior as an 'obsession'. Workers (drop the joe
> plumber stuff already) know employment likely won't improve in a
> meaningful way until 2011-12.
>
> You make a very bold statement in saying, "The credit card culture
> is now broken". I rather suspect that it's merely on hold. This current
> financial pain must go far deeper, for far longer, to effect change
> that is truly "cultural" in breadth. Agree with your notion that
> even a temporary pull back in consumer indebtedness will dampen a
> recovery when it comes.
>
> Thanks for the fine article.
>
> --R