Steven Hansen

Who Says We're Not in a 'Real' Recession?

the Peggy Noonan article was a view of the calm before the storm. she was saying that things looked normal now but that would change. her closing said in part:

"As for what we see, in economic stories there's always a lag. New York in 1990 did not know it was in the midst of coming levels of affluence unseen in all of human history. The storefronts in my neighborhood at that time were tatty, tired. At some point in the next 10 years everything in the neighborhood was updated and started to gleam. There were bright new awnings on the shops, and the windows shining.......... .........I suppose as months and years pass it will all gleam less, with a steady falling off from perfection. It will roughen."

Peggy Noonan does not disagree with you Tim.