University of California Professor Robert Reich isn’t glowing over March employment figures, and neither am I. Positive stories about the figures ignore fundamental information.

University of California Professor Robert Reich isn’t glowing over March employment figures, and neither am I. Positive stories about the figures ignore fundamental information.
Yesterday, I warned that signs of economic recovery are nothing more than a mirage. Today, I’m freaking out because Robert Reich has got an explanation so simple and so obvious. If the former US Labor Secretary’s analysis is correct, as I believe it is, the economy’s in deeper doo doo than even my worst warnings about it.
U Cal Berkley prof Robert Reich astutely and concisely sums up the prospects for economic revival in commentary “When Will the Recovery Begin? Never.” I saw it today at Salon, but Robert posted to his blog on July 9.
Other economic observers who talk about a recovery underway go oddly together with reality. There is no recovery now, and there isn’t going to be one in the foreseeable future.