Recession Fighting Back in July, New Recovery Concerns for Economy

Perhaps the first thing that the media should report when providing sporadic economic data is that there will never be a notice provided saying "Economy is Strong, All is Well". The majority of Americans who are waiting for that news will never actually receive it. We were all made well aware of the fact that the U.S. was headed for recession and the word was re-introduced as though it meant that on the day we were in a confirmed recession, we'd all lose our jobs and homes and live in darkness.

As we've seen, the recession arrived and most people are still hanging in there, albeit with some difficulty. And those hit hardest are doing what they can to improve their situation. But statistics and economic data are always available, so the media continues to throw them out as if those numbers actually relate to tangible changes in the lives of most Americans. But I digress.

Yes, the economy is struggling and there will be good months and bad months of data. Even when the economy is strong, there are still good months and bad months of data.

"There is really no positive spin to put on these numbers," Jennifer Lee, an economist with BMO Capital Markets, wrote in a research note. "The U.S. consumer remains very weak. The jobs situation, while slowly improving, is still dismal."

That quote pretty much sums up the situation. Things are much better than they were six months ago, but they're still pretty bad. It's going to be awhile before things truly stabilize - and we won't see another housing boom for decades, if ever. So don't hold your breath on that one.