Uh. My jaw is on the floor. I guess my excuse is that THEY -- the breezy upbeaters -- didn't tell me. But that's no excuse, really. You really mean we're in a DEFLATIONARY recovery? Oh, that doesn't sound like fun at all. This puts a whole new spin on the comments of Diane Swonk, chief economist at Bank One:
 
``We are well positioned for a recovery here,'' said Diane Swonk, chief economist at Bank One in Chicago. ``We almost have to look back and call this a recession-ette, rather than a recession,'' Swonk said.
 
 
Max Sawicky wrote,
 
>you left out the fun part.  Nominal GDP actually fell,
>but the price level went down more (3/10's%).  We're
>in a deflationary recovery.  Will wonders never cease.
 
Tom Walker

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