Quote of the week

“What we see in the United States and some other economies is a statistical recovery and a human recession.”
–Larry Summers, Davos, January 30, 2009

“Of course; that was the intention. The stimulus money, QE, low rates, etc., etc, were geared toward goosing the stats. They were never directed toward middle or lower income individuals and reducing unemployment has not even been attempted. So now the stats are artificially inflated. Is the recession over? Of course not… it never was. This is 1936 with 1937 just around the corner.”
–A commenter on Calculated Risk