More Half-Full Glasses
The deeper the slump, the zippier the recovery.
—The Wall Street Journal (9/19-20, 2009)
Just six months ago, the mantra of the hour was, “the bigger the party, the nastier the hangover.”
That was succeeded by the “green shoots” metaphor.
Now, I am seeing variations on “the steeper the fall, the more robust the recovery” (also known as the “V-shaped” recovery scenario).
Do I hear any murmurs of economic “coiled springs” about to be unsprung?
(Yes, I do — that’s the metaphor being pushed by Charles Schwab’s chief investment strategist, Liz Ann Sonders).
