Summer Of Recovery #7

The 7th consecutive Summer Of Recovery begins this month and the omens are so consistent it's a wonder people aren't out dancing in the streets like in Iran this week.

As of right now, there are some 93 million people not looking for work, a record they say. Keep up the good work and remember, if everyone quits looking for work, unemployment drops to zero and Obama's 3rd term is a shoo-in.

The only thing in the way of this is the projection for growth which right now the Atlanta Fed is showing at zero for Q1-15. This number is fun to watch as the first number out of the gate tends to be both wildly optimistic, and widely reported. By the end of April, the initial number will have been revised twice, usually downward, and the revision will go unreported.

The Atlanta Fed uses a different method for calculating the country's economic growth which provides somewhat lower numbers than other methods but given the consistency with which the others get revised down, it's probably more accurate.