Written by David Weatherholt on January 31, 2012 – 6:53 am -
In January’s economic news summary, I assert that we are in a “Milk Toast Economy.” I include many key economic indicators with historical graphs to prove my point. Here’s how I start:
My mother would always give me milk toast when recovering from a bout of stomach flu. This temporary, bland remedy was meant as a transition to a better diet. Yet after ten straight quarters of economic recovery, we are still eating “milk toast,” economically speaking. The post-recession economic recovery from the 1982-1983 recession, after ten quarters, showed 13.4% growth in Gross Domestic Product. Ten quarters into our current post-recession recovery that rate is a tepid 6.2%– less than half of our previous recovery. Why do you think we are still eating “milk toast?” Overall grade for January: D
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