Monday, February 06, 2012

And It Wasn't Even That Good

People are entitled to be optimistic, but the good jobs report we had wasn't even that good. A few more like that and we can breathe a bit easier, but as Krugman says things are not even close to being ok yet and, more than that, there isn't yet any solid reason to think that we're going to continue to move in that direction.

We've been here before. We had a few good months at the beginning of 2010, and even though everybody knew that it was largely due to Census hiring they popped the champagne corks anyway.