Ep. 20 - A Slower and Longer Recovery

The historic unemployment level is now impacted by “pullbacks” in bank lending and record-high household savings rates. Substantial but temporary federal government lending and household support programs are buying time in the face of really adverse business and household solvency issues (which are mounting). Meanwhile, the stock market continues to be propped up by the large technical and Internet-related names (Amazon, Apple, Facebook, Google, Netflix, Microsoft along with companies having digital focus).