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Cnbc Leading On The Jobless Recovery

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http://www.cnbc.com/id/32104155

:o Oh dear. No recovery then.

Who invented this idiot buzzphrase, 'Jobless Recovery' ? It has turned up here on HPC on quite a few threads. Was it Paul Krugman?

Anyway, I guess it was an 'Economist' . . . 'cause job losses are a 'lagging indicator' according to Economics 101. Right? It's not like millions out of work are actually driving the recession, is it?

Total oxymoron.

The other funny part is how journos hang on to the word 'recovery' even though it might be jobless, creditless, consumerless or whatever.

File under Spin and Denial.

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Who invented this idiot buzzphrase, 'Jobless Recovery' ? It has turned up here on HPC on quite a few threads. Was it Paul Krugman?

Anyway, I guess it was an 'Economist' . . . 'cause job losses are a 'lagging indicator' according to Economics 101. Right? It's not like millions out of work are actually driving the recession, is it?

Total oxymoron.

The other funny part is how journos hang on to the word 'recovery' even though it might be jobless, creditless, consumerless or whatever.

File under Spin and Denial.

Rinoa (RIP) once tried to convince me that higher unemployment did not equate to lower house prices. He had me convinced.

EDIT: For a millisecond.

Edited by RajD

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Economists increasingly are seeing a recovery that mirrors the previous two recessions, and it's raising the notion that any recovery will be unsustainable.

"Most of our job growth is predicated on the servicing and building of asset bubbles. That's not healthy and viable growth,"

.............

Portfolio managers, though, are eyeing the recent enthusiasm warily, with some attributing the market rally to traders covering short positions that have lost money as the market has bounced off technical support levels.

Consumer weakness combined with low revenue numbers during earnings—even as corporate bottom lines have improved—raise concerns that a true economic recovery is still in the distance.

"If two-thirds of the economy is struggling right now, it's hard to make the case that we're going to have sustainably strong economic growth," said Gary Flam, portfolio manager at Bel Air Investment Advisors in Los Angeles. "What we're seeing now is everything seized up in the first quarter of the year—now it's loosening up a little bit but it is by no means seeing any sign of sustainability."

It appears the recovery is built on quick sand.

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