High Noon: You call this a recovery?

According to the Obama administration, this is the Summer of Recovery: the global recession is over, factories across America are ramping up production, and corporate balance sheets are dripping black ink. So why does it still feel more like a Winter of Discontent (albeit with 90 percent humidity)? Even as Fed chairman Ben Bernanke is talking up the end of recession, new data out last week showed that economic growth in the U.S. was lower in the second quarter than the first, and that the downturn of 2009 was worse than we thought. Sure, the economy is technically growing again, but not by as much as economists had hoped. Newsweek, Full story.

Thoughts?