Regardless of the cheerleading, reality is still reality…. (courtesy of CNBC of all places).

U.S. FINANCIAL CRISIS FAR FROM OVER, ECONOMISTS SAY
Reuters
Jan. 4, 2010

America’s financial crisis is nowhere near over, according to top economists who largely contradicted the growing chorus of Wall Street bankers and government officials who say the worst has passed.

“The recession is not over,” said Michael Intriligator, professor of economics at the University of California, Los Angeles.

He predicted economic output would not return to pre-crisis levels until 2013, while the job market would not fully recover until 2016.

The views expressed at the annual meeting of the American Economic Association here stand in sharp contrast to rising optimism in the banking sector, which analysts say has benefited disproportionately from government bailout efforts.

…article continues…
http://www.cnbc.com/id/34688471

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