There is no economic recovery. We are mired in a deep global economic depression as evidenced first by the lack of demand for energy and raw materials. Secondly, unemployment is growing regardless of the wild hallucinogenic claims of an alleged "jobless recovery" that only the wide-eyed meth-monkey money changers and paper brokers on Wall Street and Washington DC can somehow see.Advertisement
To break this down we first must see a growth in demand for energy as consumers begin to travel (even if only to and from work), and the return of industrial energy demand as required for the manufacture of goods and applicatioin of services. Energy demand hasn't returned and in fact is worsening as evidenced by growing inventories of crude oil and refined petroleum products. This comes even as production and imports have declined. Energy prices have only increased because of a sorely weakened US dollar and worried investors are planting rapidly depreciating dollars into commodities. Even so, it is a race for energy producers to reduce supply and maintain a supply-driven rather than demand-driven pricing scheme. Ditto for all raw materials necessary for manufacturing.
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