David Rosenberg: Here's 8 More Reasons Why The Recovery Should Be Called The "Great Disappointment"

David Rosenberg

David Rosenberg continues to splash more cold water on this recovery talk:

•   From the lows in real GDP in June/09, 69% of the recession losses have so far been recouped.
•    From the lows in employment in Dec/09, 9% of the recession losses have been recouped.
•    From the lows in household net worth in 2009Q1, 28% of the recession losses have been recouped.
•    From the lows in wages & salaries in March 2009, 36% of the recession losses have been recouped.
•    From the lows in housing starts in April 2009, 7% of the recession losses have been recouped.
•    From the lows in home prices in April 2009, 13% of the recession losses have been recouped.
•    From the lows in consumer sentiment in November 2008, 27% of the recession losses have been recouped.
•    New and existing home sales are at all-time lows – they have never recovered.

His conclusion:

Hence the label “Great Disappointment” as it pertains to this so-called recovery.

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