Saturday, May 29, 2010

The Economy Is Improving (?)

We keep getting told the economy is improving. Actually, they usually tell us it's improving rapidly.

But there's something wrong with this picture. We learned today that 79 banks have been closed and taken over by the regulators this year. That's more than twice as many as by this time last year. That sounds like the economy is getting worse, not better.

Looks like improvement will take some more time.

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