This morning’s comments (download file) were completed before the new Jobless Claims came out; We plan on addressing that issue soon, perhaps as early as on Monday.
There are very specific factors worth noting that make this modern era economic recovery somewhat different than prior scenarios. We discussed this extensively in the “New Productivity Paradox.”
Also, here’s the updated & complete spreadsheet, comparing the present rally to the prior four: Download Excel file
Quote of the Day: “It is not so difficult a task to plant new truths, as to root out old errors; for there is this paradox in men, they run after that which is new, but are prejudiced in favor of that which is old.”
–Charles Caleb Colton, 1780 – 1832.