By Bonnie Erbe, Thomas Jefferson Street blog.
I blogged earlier about the possibility of a so-called jobless recovery. Now CNN Money has a different term for the recovery that may or may not have yet begun, depending on which expert you speak to:
Max Bublitz, chief strategist with SCM Advisors, a money manager based in San Francisco, said the economy is still not gaining much traction just yet. He added that the rally could fizzle if people start to think that a sharp, so-called V-shaped recovery isn't in the cards after all.
"Consumers are doing what you'd expect, spending less and saving more. The government is trying to pick up some of the slack," he said. "But we could have a problematic second half of the year if people realize that this may not be a V-shaped recovery after all."
So if the recovery is not "V" or "U"-shaped, will be it "W"-shaped? That would be oh-so-appropriate, given the president who created it. Perhaps it should be circular, or "O"-shaped, for the president whose policies have so far failed to pull us out of the recession. Maybe, it should be "M"-shaped, because when in doubt, blame the media. But if it's "M"-shaped, there should be an extra, upward-sloping slash added to the M, or it won't be a recovery at all.
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