Current doldrums are just jobless, sales-less recovery

NBER just made official what we all knew they would say: the Great Recession ended in June of 2009.

For those who are encouraged, note that they also do not indicate that there was a recession from March of 1933 to May of 1937, that the eighteen (18) months indicated is the longest since 1929-1933, and that eighteen months is—coincidentally—the average duration of the recessions between the World Wars. (The success of the Great Moderation is palpable.)