Mid-summer, when the economy was sitting in the doldrums, there was a tempest in a teapot regarding the economic stimulus. One side argued that a second stimulus was called for. The other had buyers remorse, wishing we hadn’t done the first one. I argued that we had done enough and the only missing ingredient was time.
Some time has passed, and things are looking up. It appears that Bush and Paulson’s $700 billion TARP program may actually turn a profit. And it’s not just TARP; the Fannie-Freddie rescue could turn a profit too. The good news doesn’t end there.
A friend recently asked, “Is it just me, or are other people also seeing a lot more job offers lately?” Apparently it’s not just our industry that’s perking up: “A monthly gauge of U.S. online labor demand soared in August at its fastest pace in four years, indicating steadier footing for nationwide labor demand…”
A recovery in the job market typically trails a recession by 18 months. And there’s still plenty of hurt left in the housing market, but it sure seems like the worst of it is behind us.