http://pragcap.com/global-employement-to-slow-recovery Sat, 20 Mar 2010 12:11:08 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://pragcap.com/global-employement-to-slow-recovery#comment-805 Onlooker Sun, 19 Apr 2009 14:20:54 +0000 http://pragcap.com/global-employement-to-slow-recovery#comment-805 Yes I believe that most are still in denial (or cloaked in ignorance) about the breadth and depth of this global recession. We've been told that another Great Depression just couldn't happen so many times that many just won't look there. So much of the analysis I've seen lately justifying this market rally and looking to a steep recovery starting in the 2nd half of '09 is based on post WWII recession history. It's folly to not realize the impact of the deleveraging going on world wide and the structural problems with our ecomony. This is no "typical" cyclical downturn. Yes I believe that most are still in denial (or cloaked in ignorance) about the breadth and depth of this global recession. We've been told that another Great Depression just couldn't happen so many times that many just won't look there. So much of the analysis I've seen lately justifying this market rally and looking to a steep recovery starting in the 2nd half of '09 is based on post WWII recession history. It's folly to not realize the impact of the deleveraging going on world wide and the structural problems with our ecomony. This is no “typical” cyclical downturn.

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