The recovery watch continues and based on anecdotal reports out of the Fed's Beige Book, economic activity is stabilizing, and even showing signs of improving, around the nation. Indeed, the key question is quickly becoming how strong and steady the gains will be as we emerge from the deep hole we in which we find ourselves. There certainly are a lot of headwinds out there, such as rising home foreclosures, faltering commercial real estate, contracting credit and struggling labor market, just to name a few, that could impede growth going forward and even set the stage for the dreaded W-shaped recession. By contrast, identifying triggers for pent-up consumer/business demand or the next major technological innovation is difficult except in hindsight, but either factor could produce significant positive effects that go a long way in boosting the economy's prospects.
In the meantime, enjoy this comic strip that illustrates how things have 'improved'.