Thursday, March 04, 2010 - by Staff Report
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The economy continued to show modest signs of improvement in recent weeks, although growth was hindered somewhat by bad weather, according to the latest Federal Reserve snapshot of regional economic conditions. Economic activity improved in nine of the central bank's 12 districts, the Fed said Wednesday in the March edition of its Beige Book. But activity was hampered in several districts, most notably Richmond, due to severe snowstorms in early February. "The stabilization of the economy continues," said Doug Roberts, chief investment strategist for Channel Capital Research. "However, the recovery seems to be tenuous." – CNN
Dominant Social Theme: Tenuous green shoots seen once more ...
Free-Market Analysis: We confess, we wonder what it is that CNN reporters - and the Fed itself - see as so encouraging about the economy. Americans have been down this weary road before. In the 20th century alone, especially since the implementation of the mercantilist quasi-public Federal Reserve, the US economy (and the world's) has sputtered like bad two-stroke engine. The yellow brick road is indeed riddled with potholes.
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