No-Respect Recovery May Wind Up Becoming Longest Ever in U.S.

[Purveyor]

by Rich Miller Sho Chandra
June 30, 2015 — 12:00 AM EDT

It may not seem like much of a recovery to most Americans, but the current economic expansion has many of the makings to become the longest in more than 150 years.

Low inflation, healthy consumer finances and pent-up demand for housing all argue that the recovery is well-positioned to withstand any fallout from the Greek crisis and has room to run as it enters its seventh year on Wednesday.

“There’s a high probability that we will exceed the 10-year expansion of the 1990s,” the longest in records going back to 1854, said Allen Sinai, chief executive officer of Decision Economics Inc. in New York.


Length of Past Few Expansions since the 1960s, Measured in Months

The benefits of such an outcome would be dramatic. Unemployment would drop below 5 percent -- it’s 5.5 percent now -- and keep on falling. Corporate profits, already at record levels, would rise further. And the stock market would make repeated new highs, according to Sinai.

more...

http://www.bloomberg.com/news/articles/2015-06-30/rodney-dangerfield-u-s-recovery-may-end-up-being-longest-ever

[msongs]

1. the corporate + 1% reocvery is doing fine these days nt

[raccoon]

2. Sure this isn't the Onion? These people must be living on another planet. nt

[deminwi]

3. Great recovery if you're wealthy

not so good if you, like me, are poor. Personally, I think this "expansion" is nothing more than BS that benefits the rich.

[fasttense]

4. I don't get it.

What exactly are they calling an expansion? The number of people unemployed and dropping out of the workforce? The number of bankruptcies? The amount of over priced real estate for sale at prices only the uber rich can afford?

I remember the days when people bought new cars when their clunkers fell apart. Now they buy another clunker. How is this considered an expansion? I guess If you only count certain statistics and ignore others you can pretend most Americans are seeing an improvement. But we know what it really represents, it's the very rich getting richer while the rest of us barely survive.