HARD AND SOFT WINNERS EXCEL IN BOTH

摘要

To recap, the U.S. recovery is lousy-sub-2% growth, when it should be 4% in a postrecession period. And that's the good news. The bad news: By one measure we're not in a recovery at all. Since 2009 the dollar has fallen 13% against a basket of competing currencies. That could mean we've had no growth at all since 2007-two years of recession and three years of a phantom, cheapened-dollar recovery.