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: Mortgage Lender Implode-o-Meter

More thoughts on the fake recovery

By Implode-Explode Heavy Industries

"Recent data suggest that the rate of economic contraction in the global economy is slowing down and we are closer than six months ago to the trough of the recent severe global recession. But while the rate of economic contraction is now lower than the free fall and near-depression experienced by many economies in Q4 of 2008 and Q1 of 2009 the recent optimism that ?green shoots? of recovery will lead to the recession to bottom out by the middle of this year and that recovery to potential growth will rapidly occur in 2010 appears to be grossly misplaced."

Full post as published by Mortgage Lender Implode-o-Meter on May 23, 2009 (boomark / email).