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Another V-sign




It seems the world continues to fret that recoveries are fragile things, and that something like a Greek default could bring down the euro. While it's clear that the recoveries in Europe and in the U.S. are less vigorous than prior recoveries have been, there are still so many signs of a substantial recovery that I think it is very premature to worry about another relapse. This chart of the Chicago Fed's National Activity Index is just one more of the indicators that suggest this recovery is the real thing.

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