Economic pain, that is. Charles Biderman says we are nowhere near recovery.
And why should he be wrong, given the terrible slew of bad economic news? Europe’s a mess. Spain and France in trouble plus Greece wants more bailout and England had a second quarter of negative GDP indicating a double dip recession.
Treasury yields are at all time lows. The Richmond Fed came in at -17 the worst since April of 2009. GM stock lower and Apple, a good performing one til now, is too.
Housing has never recovered and home values are still down.
On the up side, poverty’s up; food stamp use is up; and disability is up. Employment, though, remains down.