US is in recovery mode

It will only take until 2033 to reach full employment at 5%.

http://www.marketwatch.com/story/jobs-news-bright-economy-still-pressured-2011-03-04?dist=afterbell

 

The way the US Government calculates the unemployment rate we'll be back to 5% by next year

 

This comment was amusing

What's not amusing is the reality of the comment

 

yes, the us is recovering but we have a huge problem. if we do the austerity cuts necessary to stop the budget bleeding we will go right back into the shitter. if we dont, the debt bubble will blow up at some point. we still have a huge hurdle to overcome.

 

The next recession ( yes, there will be another recession), regardless of the cause, will be the big one. When you look at how it took running the deficit up to $1.65T to gain any growth, what will it take to force growth the next time? And, will anyone besides the Fed want to buy debt then at these artificially low rates?

 

The idea that 5% unemploment is normal is itself an artifact of the credit bubble.

 

we've been through these before and will again in the future. I am amazed at how accurately things are unwinding here after the recession: ppl were talking about years of very slow growth and this is what it has been so far.

 

Absolutely. And we saw an economic boom then bust which seems to be fairly characteristic of a recession. Right now we're seeing recovery firm by firm. There are many doomsday predictions, however with the way things are going, we'll be in good shape in a couple of years. The best way to tell is when nobody's talking about it anymore. This is already happening.