FOOL.COM : People want to deny the reality of the Economic Recovery : "Since 2008, mortgage debt has declined by about $1 trillion. Credit card debt has dropped by $180 billion. Household debt payments as a percentage of income are now at the lowest level in 18 years"

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"Even when government debt is taken into account, the economy's total debt-to-GDP ratio has been declining for four years, and faster than nearly any other developed nation on Earth"

"People are blinded by preset beliefs". - "People will generally accept facts as truth only if the facts agree with what they already believe."

All unemployment rates are declining, and Real income is growing, also GDP, industrial production… it's all moving up -- fast !

FOOL.COM
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More on the Recovery
By Morgan Housel
February 9, 2012


More on the Recovery


Some excerpts :

3. The ills that caused the recession are being washed away

This recession was caused by an overdose in debt, particularly in the household and banking sector. And I'll say it until I'm hoarse: The main reason the economy is slow today is because households and banks are relieving themselves of that debt about as fast as they can. That's why our recovery has been slow, but it's what makes it real. We're attacking the root cause of our problems, not just the symptoms.

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